FEDERALhearing transcript

Congressional Hearing on Development Bank Accountability

Original title: HOW CAN THE U.S. MAKE DEVELOPMENT BANKS MORE ACCOUNTABLE?

January 1, 2017

multilateral development banks international finance government oversight foreign aid treasury department

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The Frame

What this does

The hearing examines the mechanisms by which the U.S. government oversees and funds international development banks, which impacts how taxpayer dollars are allocated to global economic and social development projects.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

U.S. Treasury Department

The department manages U.S. participation and funding for multilateral development banks.

Developing nations

These nations receive financial assistance in the form of loans and grants from the development banks.

What changed

Last recorded activity January 1, 2017.

What's next

Next step not available in the current record.

Summary

This document is a transcript of a 2016 House subcommittee hearing regarding how the United States can improve oversight and accountability for . It outlines the role of these banks in providing financial assistance to developing nations and the U.S. government's responsibility in funding and monitoring them.

Key Facts

The hearing was held on April 27, 2016, by the Subcommittee on Monetary Policy and Trade.
Multilateral development banks (MDBs) include the World Bank, IBRD, IDA, and four regional banks: African, European, Inter-American, and Asian Development Banks.
MDBs provide loans and grants to developing countries to promote economic and social development.
Member countries receive shares in MDBs proportional to the capital they provide.
MDBs maintain AAA credit ratings, allowing them to borrow at favorable rates from private lenders.
The U.S. Congress is responsible for determining U.S. funding levels for MDBs and overseeing the Administration's participation in them.
The hearing included testimony from Nathan Sheets, Under Secretary for International Affairs at the U.S. Treasury.
Additional materials submitted for the record included a 2014 Annual Report and a 2015 Moody's credit analysis of the North American Development Bank.

Frequently Asked Questions

What are multilateral development banks?

They are international financial institutions that provide loans and grants to developing countries to support economic and social development.

Why does the U.S. Congress oversee these banks?

Because the United States is a member of these institutions and provides funding, Congress is responsible for oversight of the Administration's participation and the allocation of U.S. capital.

Why It Matters

News Coverage

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Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

cross reference90% confidence

Historical focus on North American Development Bank

The hearing record includes specific financial reports for the North American Development Bank, suggesting a focus on regional development institutions alongside global ones.

North American Development Bank

Connected Entities

organizationNorth American Development Bank“Subject of submitted credit analysis and annual report”Map →

organizationWorld Bank“Multilateral development bank discussed in the hearing”Map →

personBill Huizenga“Chairman of the Subcommittee on Monetary Policy and Trade”Map →

personNathan Sheets“Under Secretary for International Affairs at the U.S. Department of the Treasury”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

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Significance60
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Controversy20
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Entertainment5
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Buzz10
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