22 U.S.C. § 9653 — Annual report

Page 2283 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 9654 1 So in original. Probably should be ‘‘departments’’. projects supported by the Corporation under subchapter II of this chapter and to guide future projects of the Corporation. (b) Considerations In developing the performance measurement system required by subsection (a), the Corpora- tion shall— (1) develop a successor for the development impact measurement system of the Overseas Private Investment Corporation (as such sys- tem was in effect on the day before October 5, 2018); (2) develop a mechanism for ensuring that support provided by the Corporation under subchapter II of this chapter is in addition to private investment; (3) develop standards for, and a method for ensuring, appropriate financial performance of the Corporation’s portfolio; and (4) develop standards for, and a method for ensuring, appropriate development perform- ance of the Corporation’s portfolio, includ- ing— (A) measurement of the projected and ex post development impact of a project; and (B) the information necessary to comply with section 9653 of this title. (c) Public availability of certain information The Corporation shall make available to the public on a regular basis information about sup- port provided by the Corporation under sub- chapter II of this chapter and performance metrics about such support on a country-by- country basis. (d) Consultation In developing the performance measurement system required by subsection (a), the Corpora- tion shall consult with the Development Advi- sory Council established under section 9613(i) of this title and other stakeholders and interested parties engaged in sustainable economic growth and development. (Pub. L. 115–254, div. F, title IV, § 1442, Oct. 5, 2018, 132 Stat. 3504.) § 9653. Annual report (a) In general After the end of each fiscal year, the Corpora- tion shall submit to the appropriate congres- sional committees a complete and detailed re- port of its operations during that fiscal year, in- cluding an assessment of— (1) the economic and social development im- pact, including with respect to matters de- scribed in subsections (d), (e), and (f) of section 9651 of this title, of projects supported by the Corporation under subchapter II of this chap- ter; (2) the extent to which the operations of the Corporation complement or are compatible with the development assistance programs of the United States and qualifying sovereign en- tities; (3) the Corporation’s institutional linkages with other relevant United States Government department 1 and agencies, including efforts to strengthen such linkages; and (4) the compliance of projects supported by the Corporation under subchapter II of this chapter with human rights, environmental, labor, and social policies, or other such related policies that govern the Corporation’s support for projects, promulgated or otherwise admin- istered by the Corporation. (b) Elements Each annual report required by subsection (a) shall include analyses of the effects of projects supported by the Corporation under subchapter II of this chapter, including— (1) reviews and analyses of— (A) the desired development outcomes for projects and whether or not the Corporation is meeting the associated metrics, goals, and development objectives, including, to the ex- tent practicable, in the years after conclu- sion of projects; and (B) the effect of the Corporation’s support on access to capital and ways in which the Corporation is addressing identifiable mar- ket gaps or inefficiencies and what impact, if any, such support has on access to credit for a specific project, country, or sector; (2) an explanation of any partnership ar- rangement or cooperation with a qualifying sovereign entity in support of each project; (3) projections of— (A) development outcomes, and whether or not support for projects are meeting the as- sociated performance measures, both during the start-up phase and over the duration of the support, and to the extent practicable, measures of such development outcomes should be on a gender-disaggregated basis, such as changes in employment, access to fi- nancial services, enterprise development and growth, and composition of executive boards and senior leadership of enterprises receiv- ing support under subchapter II of this chap- ter; and (B) the value of private sector assets brought to bear relative to the amount of support provided by the Corporation and the value of any other public sector support; and (4) an assessment of the extent to which les- sons learned from the monitoring and evalua- tion activities of the Corporation, and from annual reports from previous years compiled by the Corporation, have been applied to projects. (Pub. L. 115–254, div. F, title IV, § 1443, Oct. 5, 2018, 132 Stat. 3505.) § 9654. Publicly available project information The Corporation shall— (1) maintain a user-friendly, publicly avail- able, machine-readable database with detailed project-level information, as appropriate and to the extent practicable, including a descrip- tion of the support provided by the Corpora- tion under subchapter II of this chapter, in- cluding, to the extent feasible, the informa- tion included in the report to Congress under section 9653 of this title and project-level per- formance metrics; and (2) include a clear link to information about each project supported by the Corporation