United States Development Finance Corporation Effectiveness Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
This bill, the United States Development Finance Corporation Effectiveness Act, amends the Better Utilization of Investments Leading to Development Act of 2018 to strengthen the Development Finance Corporation’s (DFC) reporting requirements. Specifically, it mandates the DFC to provide more detailed annual reports on its investments, including an assessment of whether projects align with U.S. strategic goals and development objectives, as well as a breakdown of private capital mobilized and risk-taking incentives. The bill also aims to improve public access to information about DFC-supported projects.
Key provisions
- Requires the DFC to include an assessment of project alignment with U.S. strategic goals in its annual reports.
- Demands a detailed breakdown of private capital mobilized by DFC projects.
- Mandates reporting on the Corporation’s portfolio, including investment performance metrics and any discrepancies between projected and actual returns.
- Requires reporting on the distribution of DFC support across different income countries.
- Calls for a breakdown of the Corporation’s maximum contingent liability by country income level.
- Encourages the CEO to incentivize calculated risk-taking in development projects.
- Directs the DFC to provide recommendations for adapting projects to changing circumstances.
- Requires the DFC to maintain a publicly available database with detailed project information.
Who is affected
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