Overview
The multilateral development institutions (MDIs) serve critical
United States’ interests in promoting global economic
growth and stability, especially in those areas of the world
where poverty is most acute. The MDIs are the International
Bank for Reconstruction and Development (IBRD), International
Development Association (IDA), International Finance Corporation
(IFC), Multilateral Investment Guarantee Agency (MIGA), African
Development Bank (AFDB)1, Asian Development Bank
(ADB)2, Inter-American Development Bank (IDB)3, and the European
Bank for Reconstruction and Development (EBRD).
Transparency increases accountability and effectiveness within
the MDIs. This Treasury website is intended to promote transparency
and implement the new section 1504 of the International Financial
Institutions Act added by Public Law 108-199 (2004). 4
1 As well as the African
Development Fund (AFDF).
2 Includes the Asian Development Fund (ADF).
3 As well as the Fund for Special Operations (FSO)
and the separately-incorporated Inter-American Investment
Corporation (IIC).
4 Section 1504 states:
(c) PUBLICATION OF WRITTEN STATEMENTS
REGARDING INSPECTION MECHANISM CASES – No later than
60 calendar days after a meeting of the Board of Directors
of a multilateral development institution, the Secretary of
the Treasury should provide for publication on the website
of the Department of the Treasury of any written statement
presented at the meeting by the United States Executive Director
at the institution concerning:
(1) a project on which a claim has been made to the inspection
mechanism of the institution; or
(2) a pending inspection mechanism case.
(e) PUBLICATION OF ‘NO’
VOTES AND ABSTENTIONS BY THE UNITED STATES – Each month,
the Secretary of the Treasury should provide for posting on
the website of the Department of the Treasury of a record
of all ‘no’ votes and abstentions made by the
United States Executive Director at any multilateral development
institution on any matter before the Board of Directions of
the institution.
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