22 U.S.C. § 262o-3 : US Code - Section 262O-3: Administrative provisions

Search 22 U.S.C. § 262o-3 : US Code - Section 262O-3: Administrative provisions

(a) Achievement of certain policy goals
The Secretary of the Treasury should instruct the United States
Executive Director at each multilateral development institution to
inform the institution of the following United States policy goals,
and use the voice and vote of the United States to achieve the
goals at the institution before June 30, 2005:
(1) No later than 60 calendar days after the Board of Directors
of the institution approves the minutes of a Board meeting, the
institution shall post on its website an electronic version of
the minutes, with material deemed too sensitive for public
distribution redacted.
(2) The institution shall keep a written transcript or
electronic recording of each meeting of its Board of Directors
and preserve the transcript or recording for at least 10 years
after the meeting.
(3) All public sector loan, credit and grant documents, country
assistance strategies, sector strategies, and sector policies
prepared by the institution and presented for endorsement or
approval by its Board of Directors, with materials deemed too
sensitive for public distribution redacted or withheld, shall be
made available to the public 15 calendar days before
consideration by the Board or, if not then available, when the
documents are distributed to the Board. Such documents shall
include the resources and conditionality necessary to ensure that
the borrower complies with applicable laws in carrying out the
terms and conditions of such documents, strategies, or policies,
including laws pertaining to the integrity and transparency of
the process such as public consultation, and to public health and
safety and environmental protection.
(4) The institution shall post on its website an annual report
containing statistical summaries and case studies of the fraud
and corruption cases pursued by its investigations unit.
(5) The institution shall require that any health, education,
or poverty-focused loan, credit, grant, document, policy, or
strategy prepared by the institution includes specific outcome
and output indicators to measure results, and that the indicators
and results be published periodically during the execution, and
at the completion, of the project or program.
(6) The institution shall establish a plan and schedule for
conducting regular, independent audits of internal management
controls and procedures for meeting operational objectives,
complying with Bank policies, and preventing fraud, and making
reports describing the scope and findings of such audits
available to the public.
(7) The institution shall establish effective procedures for
the receipt, retention, and treatment of: (A) complaints received
by the Bank regarding fraud, accounting, mismanagement, internal
accounting controls, or auditing matters; and (B) the
confidential, anonymous submission by employees of the Bank of
concerns regarding fraud, accounting, mismanagement, internal
accounting controls, or auditing matters.
(b) Report
Not later than September 1, 2004, and 6 months thereafter, the
Secretary of the Treasury shall submit a report to the appropriate
congressional committees describing the actions taken by each
multilateral development institution to implement the policy goals
described in subsection (a) of this section, and any further
actions that need to be taken to fully implement such goals.
(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.
(d) Congressional briefings
The Secretary of the Treasury or the designee of the Secretary
should brief the appropriate congressional committees, when
requested, on the steps that have been taken by the United States
Executive Director at any multilateral development institution, and
by any such institution, to implement the measures described in
this section.
(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 Directors of the institution.
(f) Multilateral development institution defined
In this section, the term "multilateral development institution"
shall have the meaning given in section 262r(c)(3) of this title.