2011 Annual Report

U.S. Trade and Development Agency
mission

The U.S. Trade and Development Agency helps companies create U.S. jobs through 

the export of U.S. goods and services for priority development projects in emerging 

economies. USTDA links U.S. businesses to export opportunities by funding project 

planning activities, pilot projects, and reverse trade missions while creating sustainable 

infrastructure and economic growth in partner countries.

Table of Contents

Message from the Director. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

2011: Building Economic and Commercial Relationships. . . . . . . . . . . . . . . . . . . . . . . . . . 3

Helping Small and Medium‐Sized Businesses Achieve Global Successes. . . . . . . . . . . 6

Fiscal Year 2011 Results: Perseverance Pays Dividends. . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

International Business Partnership Program. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

— Reverse Trade Missions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

— Conferences and Workshops. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

Project Development Program. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

— Feasibility Studies and Pilot Projects. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

— Technical Assistance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

Client Resources. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

Summary of FY 2011 Program Activities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

FY 2011 Program Activities Listed by Region. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

Financial Information. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21

ustda.gov
2011 ANNUAL REPORT 1

M essage from the D irector

This level of achievement reflects the Agency’s 

continuing emphasis on setting strategic goals and 

meeting them through responsive, innovative, and 

effective program activities. The recognition of 

USTDA’s highly effective programs has generated 

greatly increased demand for its services from 

U.S. businesses interested in export opportunities 

as well as from the countries in which USTDA 

funds development activities to create sustainable 

infrastructure and economic growth. 

One of USTDA’s strategic goals for FY 2011 was 

to increase activity in its relatively new, but highly 

effective, International Business Partnership 

Program (IBPP). The IBPP was developed by 

USTDA in response to President Obama’s National 

Export Initiative and his naming of USTDA to the 

Export Promotion Cabinet. 

A principal component of the IBPP is USTDA 

sponsorship of reverse trade missions (RTMs). 

These missions link U.S. businesses to export 

opportunities by bringing delegations of sponsors 

of priority development projects in their countries 

to the United States. The delegations travel widely 

throughout the U.S. visiting businesses to acquaint 

them with products and expertise available to 

meet their project needs. Correspondingly, U.S. 

businesses have the opportunity to demonstrate 

the quality and suitability of their products for use 

in development projects. 

In the two years since the IBPP was initiated, the 

commitment of resources to reverse trade missions 

has almost doubled, with 50 being conducted in 

FY 2011. Through these RTMs, USTDA brought 

more than 1000 U.S. company representatives from 

businesses of diverse sizes and missions together 

with over 600 foreign delegates, including 

ministers, mayors, and other senior governmental 

and private sector officials from various 

developing and middle income countries.

In another strategic effort designed to generate 

more exports for U.S. companies, USTDA narrowed 

its focus to twenty-six priority countries that offer 

the strongest and most viable markets for U.S. 

exports. The World Bank estimates that these 

priority countries will average 6 percent economic 

growth in the next two years — more than double 

the projected rate of growth in the world’s 

highest income countries. Consequently, USTDA 

anticipates that they will be in the market for U.S. 

products and services to further their development 

efforts, thus enhancing U.S. exports. 

In addition to the country focus, USTDA 

focused its program on three priority sectors: 

transportation, clean energy, and information and 

communications technology. These sectors reflect 

the greatest demand from developing and middleincome countries, represent areas of recognized 

U.S. private sector expertise and competitiveness, 

U.S. Trade and Development 

Agency Director Leocadia I. Zak

Fiscal Year 2011 was an exceptional year for the U.S. 

Trade and Development Agency. In that period USTDA 

identified a record $4.9 billion dollars in U.S. exports 

that were supported by our programs. For the third year 

in a row, the measure of return on program investment 

increased significantly and in 2011 was a record-breaking 

58 dollars in exports for every program dollar 

expended. Importantly, these exports also supported 

more than 30,000 U.S. jobs. 
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2 U.S. TRADE AND DEVELOPMENT AGENCY

M essage from the D irector

and have the greatest likelihood of receiving 

implementation financing. Governments and 

companies in emerging economies are investing 

heavily in infrastructure projects that are critical 

to their economic growth and trade. This narrowed 

focus on both countries and sectors has allowed us 

to better identify opportunities with the greatest 

potential for U.S. business growth and exports, 

as evidenced by the record breaking results we 

have seen. 

By targeting investments, through selective 

programs, countries, and sectors, USTDA is 

creating the best conditions for U.S. companies to 

expand their export markets for both immediate 

and long-term success. I am confident that USTDA 

will continue to play an important role in increasing 

exports, supporting U.S. jobs and encouraging 

economic development in our partner countries. 

Leocadia I. Zak

Director, U.S. Trade and Development Agency

During FY 2011, 

USTDA identified 

U.S. companies 

in 38 states 

and the District 

of Columbia 

that benefitted 

from projects 

supported by 

Agency activities.
2011 ANNUAL REPORT 3

2011 in review

Through its consistent support of high-quality infrastructure investments and its 

innovative approach to targeting sector growth opportunities, USTDA continued its 

efforts this past year to open and expand markets for exports of U.S.-manufactured 

goods and services. Coupled with the Agency’s keen focus on economic development 

of its partner countries, these activities demonstrated the mutual gains of working 

together to increase trade, as shown in the highlights below.

Egypt: Forward Initiative

In June 2011, USTDA sponsored Egypt: Forward, 

the first major trade event for the United States and 

Egypt following the Arab Spring, as an immediate 

response to support economic growth and stability 

in Egypt. With a forum in Washington, D.C. and 

site visits across the United States, Egypt: Forward

provided an unprecedented opportunity to foster 

commercial and economic ties.

Over 250 U.S. company representatives and 50 

Egyptian public and private sector leaders in 

the energy, information and communication 

technologies (ICT), transportation, and agribusiness 

sectors participated, with tangible export results 

already leading to mutual benefits (see page 11 for 

2011: Building Economic and 

Commercial Relationships

more information). In 2012, USTDA will build on 

the success of Egypt: Forward by hosting a series of 

technical workshops in Cairo on creating U.S.-Egypt 

partnerships to pursue opportunities throughout the 

Middle East, Persian Gulf, and Africa.

President’s Visit to India

In early FY 2011, President Obama visited India 

to highlight the broad economic and commercial 

relationships the United States shares with India. 

For USTDA, a high point of the visit was the launch 

of the U.S.-India Energy Cooperation Program 

(U.S.‐India ECP), a unique private-public partnership 

between U.S. and Indian member companies and 

Panelists at the Egypt: Forward Forum the governments of the countries. The partnership 

President Barack Obama greets Prime Minister Manmohan 

Singh of India at the start of their bilateral meeting at the 

ASEAN Summit in Nusa Dua, Bali. 

Photo credit: Official White House Photo by Pete Souza
4 U.S. TRADE AND DEVELOPMENT AGENCY

2011 in review

leverages private sector resources in both countries 

to promote the commercial development of clean and 

sustainable energy projects in India.

Since the founding of the U.S.-India ECP, USTDA 

has begun several creative activities to advance 

the export of U.S. clean energy and energy efficient 

goods and services. For example, USTDA launched 

the Efficiency and Clean Energy Exchange Program 

to introduce Indian officials and private sector project 

sponsors to U.S. clean energy technologies through 

a series of four reverse trade missions. These visits, 

which began in 2011 and will continue through 2012, 

focus on the highest priority areas for clean energy 

development, such as smart grid applications, solar 

power generation development, unconventional gas, 

and energy efficiency.

U.S.-China Health 

Cooperation Program

Further utilizing its successful Cooperation Program 

model, USTDA launched the U.S.-China Healthcare 

Cooperation Program (HCP), a partnership among 

U.S. healthcare firms, USTDA, and U.S. and Chinese 

government agencies. This program provides U.S. 

industry a forum for working directly with both U.S. 

and Chinese governments to open markets for U.S. 

goods and services in the rapidly growing Chinese 

healthcare sector.

Chinese delegates join emergency medical response reverse 

trade mission to learn about state-of-the-art emergency response 

technologies and best practices.

Announced during President Hu Jintao’s visit to the 

United States in January 2011, the HCP was launched 

with the help of 18 founding U.S. companies and 

organizations. Since then, the HCP has increased 

to over 35 participating companies. As former 

Commerce Secretary and now U.S. Ambassador to 

China Gary Locke noted, “U.S. companies offer worldclass healthcare products and services that can help 

China raise the quality of medical care for its citizens 

while increasing U.S. exports to China.”

In FY 2012, USTDA will host a Healthcare 

Professional Personnel Exchange Program, which 

will include three exchange visits to the U.S. by 

Chinese healthcare officials, who will witness 

innovative U.S. technologies that can play an 

important role in meeting China’s long-term 

healthcare needs. 

African Growth and 

Opportunity Act

USTDA once again played a prominent role at the 

annual Trade and Economic Cooperation Forum for 

the African Growth and Opportunity Act (AGOA) in 

June 2011. The forum in Lusaka, Zambia, facilitated 

a high-level dialogue between the United States and 

37 sub-Saharan African countries, which focused on 

exploring the developmental relationship of trade 

and investment to economic growth.

Secretary of State Hillary Rodham Clinton delivers the closing remarks at 

the African Growth and Opportunity Act Conference at the Mulungushi 

International Conference Center in Lusaka, Zambia.

Photo credit: U.S. State Department
2011 ANNUAL REPORT 5

represents over $200 million in business 

opportunities for U.S. firms, and will ensure safe 

and efficient management of air traffic flow across 

the region. 

Earthquake Monitoring 

Technologies Initiative 

In further response to the devastating earthquakes 

that struck the Western Hemisphere in 2010, 

USTDA launched an Earthquake Monitoring 

Technologies Initiative to familiarize senior Latin 

American and Caribbean officials and private 

project sponsors with the best of U.S. technologies 

and practices in earthquake monitoring, 

communications, and response systems.

Through its support of three reverse trade 

missions, each focused on a geographic 

sub‐region (the Caribbean, South America, and 

Mexico and Central America), the delegations 

met with U.S. industry, financial institutions, 

and government agencies. The visits facilitated 

the exchange of information on the commercial, 

technological, regulatory, and financial aspects 

of the deployment of earthquake monitoring 

and communications systems. Thirty-four 

officials from Latin America and the Caribbean 

participated in the visits. 

Delegates from Latin America meet with Dr. Harley Benz at the National 

Earthquake Information Center in Golden, CO.

In cooperation with the Office of the U.S. Trade 

Representative and the U.S. Departments of State and 

Commerce, USTDA highlighted how its programs 

are helping to build Africa’s infrastructure for trade 

through the application of U.S. technologies, goods, 

and services. The Agency unveiled new measures 

in support of the Administration’s National Export 

Initiative, including activities related to food security, 

regional rail integration in Southern Africa, financial 

sector integration in East Africa, and smart grid 

technologies in South Africa.

Southeast Asia: Transportation 

Safety and Connectivity

2011 was a banner year for aviation in Southeast Asia. 

In November 2011, President Obama witnessed the 

signing of a contract for the $21.7 billion sale of 230 

Boeing 737 airplanes to Indonesia’s regional airline 

Lion Air on the sidelines of the East Asia Summit. 

Vietnam’s aviation market is projected to be the 

world’s third fastest growing market for international 

passengers and freight and the second fastest for 

domestic passengers by 2014. 

As these two markets are rapidly ascending, USTDA 

supported reverse trade missions on air traffic 

management and control for delegations from 

Vietnam and Indonesia to observe the systems in 

use in the United States and meet with world-class 

firms in aviation technologies and consulting. The 

implementation of air traffic management systems 
6 U.S. TRADE AND DEVELOPMENT AGENCY

2011 in review

More than 90% of contracts awarded by USTDA are 

performed by small businesses. In addition, more than 

44% of grants awarded to overseas project sponsors 

directly lead to contracts with U.S. small businesses. 

Drawing extensively on the expertise of small 

consulting and engineering firms, USTDA depends 

heavily on SMEs to provide a variety of services, 

from sector- or country-specific guidance on project 

opportunities, to final evaluations of those projects. 

SMEs provide USTDA insight into the leading U.S. 

industries and the latest technological changes.

In return, USTDA connects U.S. technical experts to 

overseas grantees during the early stages of a project, 

links U.S. suppliers and service providers to key 

officials through reverse trade missions, and positions 

small and medium-sized U.S. businesses to succeed in 

the international arena.

For example, Global Resources Inc. (GRI), an Irvine, 

CA-based ICT and infrastructure consulting firm, has 

leveraged its activities with USTDA to expand its work 

in emerging economies. GRI’s advisory services have 

Helping Small and Medium-Sized 

Businesses Achieve Global Successes

Since its inception, USTDA has been a catalyst for engaging U.S. small and mediumsized enterprises (SMEs) in the global marketplace. By providing opportunities for SMEs 

to demonstrate their unique technologies and specialized services to foreign buyers, 

USTDA assists SMEs in expanding sales into new and developing markets abroad.

helped government and private clients achieve their 

development goals and advance economic growth in 

their countries, while creating export opportunities 

for U.S. firms to those markets.

Similarly, NTELX, a Vienna, VA-based IT solutions 

provider, entered the international marketplace 

through a USTDA-funded pilot project to improve 

the flow of freight traffic at the congested Port of 

Aqaba in Jordan. NTELX’s customized system 

substantially reduced processing times for trucks 

in the port’s special economic zone, improved 

traffic flow, led to a country-wide reduction in the 

cost of trucking by 20 percent, and eliminated 

approximately 5,000 tons annually of carbon 

emissions. Based upon the success of this project, 

NTELX is building sales throughout the region.

These examples illustrate USTDA’s unique role 

in supporting SME exports of both products 

and services.

USTDA’s partnership with the Small Business 

Administration (SBA) has expanded the 

participation of SMEs in USTDA-sponsored 

events, and increased their access to foreign 

buyers. Working with SBA’s regional and district 

offices, USTDA has expanded its outreach to the 

small business community in a targeted effort to 

increase exports to emerging economies. USTDA 

also collaborates closely with the Department of 

Commerce’s U.S. Export Assistance Centers and 

Minority Business Development Agency district 

offices, as well as the District Export Councils, all 

located throughout the United States.

USTDA looks forward to continuing its partnership 

with U.S. small and medium-sized businesses to 

explore more ways to open new markets abroad and 

create jobs at home.

American Signal Corporation, a small business based in Milwaukee, WI, 

shipped emergency warning systems (shown above) to Thailand and Sri Lanka 

as a result of USTDA’s programs.
2011 ANNUAL REPORT 7

E valuations

Fiscal Year 2011 Results: 

Perseverance Pays Dividends

Every year USTDA conducts an 

extensive review of its programs and 

projects to determine the Agency’s 

overall effectiveness and responsiveness 

to various stakeholders. In FY 2011, 

USTDA continued to pursue a more 

targeted approach to delivering 

assistance and streamlined the 

Agency’s country and sector focus. 

Reflecting this disciplined approach, USTDA focused 

on 26 priority countries (out of 131 countries eligible 

for USTDA assistance) and three priority sectors 

that offered the best prospects for U.S. exports, job 

growth, and overseas economic development. 

The results of this strategy continue to exceed the 

Agency’s goals. By the close of FY 2011, USTDA 

identified a record 4.9 billion dollars in U.S. exports 

that were supported by our programs. Furthermore, 

the return on investment increased from 47 to 

58 dollars in exports for every dollar the Agency 

invested. USTDA’s investments have similarly 

supported developmental benefits across the world.

Notwithstanding budgetary constraints at a 

time of growing demands for assistance, USTDA 

Strategic Investments in FY 2011

Percentage of total program budget

Priority Countries: 87%

Clean Energy/Energy Efficiency: 38%

Transportation: 27%

Information and Communication Technologies: 19%

Overall Success Rates

Export Multiplier: 58 to 1

New Exports Identified: $4.9 B

demonstrated its ability to pursue a strategic 

agenda that balanced the Administration’s 

foreign policy and export promotion goals with 

developmental priorities in our partner countries. 

In FY 2011, the Agency produced outstanding 

results in terms of increasing its export multiplier, 

identifying new project successes, supporting over 

50 new reverse trade missions, and launching new 

programs to help the U.S. government meet its 

strategic objectives.

By focusing its resources on select countries 

and sectors where U.S. industry is particularly 

competitive, USTDA has strengthened ties with 

U.S. companies focused on these priority markets, 

as well as customers in the priority countries.
8 U.S. TRADE AND DEVELOPMENT AGENCY

international business partnership program

Reverse trade missions provide unique opportunities 

to foster business relationships and build long-lasting 

partnerships between U.S. businesses and our overseas 

partners. During the past year, USTDA hosted more 

than 50 reverse trade missions to introduce U.S. 

businesses to more foreign delegates and business 

opportunities than ever before. A key part of USTDA’s 

support of the National Export Initiative, these carefully 

planned missions enable foreign delegates to visit the 

U.S. to observe first-hand the design, manufacture, and 

demonstration of goods and services that can help the 

delegates achieve their development goals. The reverse 

trade missions are planned to target current and nearterm business opportunities, creating immediate results 

and export successes for U.S. businesses.

This past year, USTDA introduced more than 600 

foreign delegates to more than 1,000 U.S. company 

representatives across the United States. These 

foreign delegates included ministers, mayors, and 

senior governmental and private sector officials 

from emerging markets.

Reverse Trade Missions: Invitations to Do Business

USTDA’s Annual Report is designed not only to report on the fiscal year, but also to 

showcase our “toolbox” of activities and programs to help U.S. businesses achieve 

President Obama’s goal of doubling U.S. exports from 2010 to 2015.

USTDA Programs: 

Tools That Open Global Markets

Regional Latin America. In support of 

President Obama’s Energy and Climate Partnership 

of the Americas, USTDA launched the Clean Energy 

Exchange Program of the Americas to familiarize 

key Latin American and Caribbean energy sector 

officials and project sponsors with U.S. clean 

energy technologies.

The Initiative consisted of six carefully designed and 

technology-targeted reverse trade missions, each 

focused on a different sub-sector of clean energy, 

including solar, wind, geothermal, waste-to-energy/

biomass, and mini-hydropower. The immediate 

benefits of the Initiative are demonstrated in the case 

of the Brazilian firm, Renova Energia, which used its 

visit to better understand GE Energy’s wind power 

technologies, which led to a $285 million contract for 

102 wind turbines that will generate over 160 MW 

of power.

Brazil. In FY 2011, USTDA also sponsored a reverse 

trade mission on railway integration and locomotive 

refurbishment technologies in which representatives 

from the Association of Brazilian Railway 

Concessionaires (ANTF), Brazil’s National Ground 

Transportation Agency (ANTT), and the Brazilian 

Railroad Industry Association visited U.S. companies 

in Maryland, Indiana, Illinois, Texas, and Colorado.

As a result, private rail concessionaire 

Transnordestina Logistica S/A concluded a 

contract valued at $2.2 million for new locomotive 

equipment from the National Railway Equipment Co. 

(Mt. Vernon, IL). Additionally, Progress Rail Services 

(Alberta, AL and Woodridge, IL) concluded a contract 

Latin America delegates tour operations and machinery at Brighton Dam, for over $100 million in electro-diesel locomotives and 

Brookeville, MD
2011 ANNUAL REPORT 9

As a U.S.-China Energy Cooperation Program 

(ECP) founding member, California-based 

Solatube has become a leading force in opening 

China’s clean energy market for U.S. exports. 

Solatube’s patented daylighting devices use 

advanced optics to bring natural lighting into 

interior building spaces.

When Solatube first 

arrived in China in 2009, 

the daylighting industry 

was nonexistent, requiring 

Solatube to establish 

industry design standards 

to generate acceptance 

of and demand for its 

products. To pursue 

this challenge, Solatube 

became a founding 

member of the ECP 

in 2010.

Through the ECP, Solatube participated in two 

reverse trade missions during which Chinese 

delegations visited Solatube customer sites 

and saw demonstrations of its daylighting 

technologies. Following the first visit, Solatube 

secured its first government project in Xinxiang 

City in Henan Province for the design and 

installation of daylighting units in two buildings. 

Solatube then won a 20,000-square meter 

project in Shanxi, as well as an invitation to 

participate in the drafting and revision of three 

building lighting standards that now include 

daylighting systems.

When reflecting on ECP’s value to U.S. 

business, Solatube General Manager Catherine 

Zhou stated “ECP gives small and medium 

enterprises, especially those leading a new 

industry, the leverage needed to work with the 

government, and to reach out to the Chinese 

market and get results.”

Success Story: 

Solatube Sees 

Light of Day in China 

associated parts and services to be exported to several 

Brazilian rail concessionaires.

South Africa. In May 2011, USTDA hosted a 

delegation from South Africa’s natural gas sector 

to meet with U.S. suppliers in Houston, TX, and 

Washington, DC. The delegation also toured the 

Freeport and Sabine Pass liquefied natural gas (LNG) 

facilities and participated in the Offshore Technology 

Conference (OTC).

The visit supported U.S. private sector participation 

in the implementation of a proposed LNG import and 

re-gasification terminal and associated 2,400 MW 

power plant in South Africa, as well as a proposed 

LNG import terminal at Mossel Bay that will 

support the continued operations of a gas-to-liquids 

refinery. The visit provided the U.S. private sector an 

opportunity to demonstrate their technologies and 

engage potential South African partners.

Morocco and Jordan. Building upon its previous 

investments in the transport sectors in Jordan and 

Morocco, USTDA sponsored a reverse trade mission 

for a delegation of public and private sector port 

officials from both countries. The visit to Washington, 

DC, Texas, and California supported Jordanian and 

Moroccan plans to increase port efficiency.

Delegates learned firsthand about current and 

emerging technologies through exposure to U.S. 

goods, services, and best practices in vessel traffic 

management systems (VTMS), integrated port 

communications information systems (IPCIS), and 

port security and surveillance technologies. The visit 

opened doors for U.S. companies to develop new 

business relationships in the region.

A South African delegation visited the newly constructed Sabine Pass LNG 

Terminal in Cameron Parish, Louisiana.

Example of Solatube daylighting 

system for commercial use.
international business partnership program

10 U.S. TRADE AND DEVELOPMENT AGENCY

In FY 2011, USTDA hosted more than 25 conferences 

and workshops in the United States and overseas that 

brought together more than 2,000 foreign delegates 

with more than 500 U.S. company representatives 

and government officials. These meetings provide 

U.S. companies with vital knowledge on specific 

programs and activities that could positively impact 

their businesses, while supporting the National 

Export Initiative.

Nigeria. In June 2011, USTDA hosted officials from 

Oando Gas and Power Ltd., one of Nigeria’s leading 

oil and gas companies, to meet with U.S. technology 

providers in Houston, TX, and to learn about U.S. 

best practices and solutions in this sector. Oando 

delegates received training on the management and 

operation of gas storage sites to enable delegates to 

make an informed decision on whether a surface or 

subsurface solution would best suit their needs.

Oando has invested over $250 million in gas supply 

pipelines in southern Nigeria and currently supplies 

gas to about 90 industrial and power-producing 

clients in the Lagos area. Depending on the type of 

storage facility Oando develops, the implementation 

cost will likely be up to $245 million, with more than 

$100 million in U.S. export potential. 

Conferences and Workshops:

Promoting Export Opportunities

East African Community. USTDA has a record 

of success facilitating the growth of Africa’s ICT 

infrastructure. As a direct result of the Agency’s 

support, U.S. technologies and expertise were used 

to develop the SEACOM undersea fiber optic cable 

network, which has revolutionized communications 

by further connecting Africa to the rest of the world.

Current USTDA activities help Africa explore ways 

of benefiting from its newfound broadband capacity. 

In Kigali, Rwanda, USTDA brought together public 

and private sector decision makers from the East 

African Community (EAC) for a healthcare workshop 

to explore policies and technologies to deliver 

e-health solutions. The workshop engaged over 100 

participants from Kenya, Tanzania, Uganda, Burundi, 

and Rwanda. It provided a forum to spur regional 

development and allowed the U.S. private sector to 

showcase its e-health solutions.

USTDA hosts conferences and 

workshops throughout the year to help 

build partnerships and provide export 

opportunities for U.S. companies. 

Events like the East Africa Community 

e‐Health Workshop and the U.S.-China 

Aviation Summit allow U.S. companies to 

showcase their technologies and services, 

as well as meet with foreign project 

sponsors and potential customers.

Officials from Oando Gas and Power Ltd. tour oil and gas facilities in 

Houston, TX to witness U.S. technologies in operation and best practices.
2011 ANNUAL REPORT 11

Demonstrating that “Egypt is open for business”was 

the aim of this USTDA-sponsored event that attracted 

hundreds of U.S. participants interested in commercial 

opportunities and new partnerships. Egypt: Forward,

which took place in the summer of 2011, is already 

yielding demonstrable results, including five agreements 

between U.S. companies and Egyptian project sponsors.

As described earlier (page 3), USTDA hosted a 

delegation of more than 50 Egyptian business leaders, 

policymakers, and entrepreneurs to connect with their 

U.S. counterparts at this first major event for both 

countries since the Arab Spring.

Egypt: Forward began 

with a two-day forum 

in Washington, DC, 

to promote trade and 

increased economic 

ties. A highlight was 

the conclusion of six 

agreements to build a privately owned $3.7 billion 

petrochemical plant, the direct result of a previous 

USTDA-funded feasibility study. Construction of this 

facility will lead to thousands of jobs in both the United 

States and Egypt, a win-win partnership that brings the 

vision of Egypt: Forward to fruition.

Following the forum, the Egyptian delegates divided 

into four groups to conduct sector-focused site visits to 

Houston, TX, Silicon Valley, CA, New York City, NY, and 

Omaha, NE. Each delegation met with U.S. companies 

and presented commercial opportunities in Egypt’s 

energy, ICT, transportation, and agribusiness sectors.

Delegates also participated in a business roundtable and 

visited manufacturing plants and other sites to observe 

the design and demonstration of U.S. technology and 

equipment. As a result of the agribusiness site visit, 

Schaeffer Ventilation (Sauk Rapids, MN) finalized an 

agreement with a delegate who will represent Schaeffer’s 

products in Egypt.

China. In 2011, USTDA marked 10 years of 

cooperation with China on aviation by hosting a 

U.S.-China Aviation Summit in Washington, D.C. 

In conjunction with the conference, USTDA organized 

visits to Memphis, TN, Chicago, IL, and Louisville, 

KY, for Chinese officials to witness U.S. products 

and expertise in action. The Chinese responded 

by sending almost 90 representatives, their largest 

delegation ever, to learn what U.S. business can do to 

support China’s infrastructure modernization.

The Summit focused on areas of priority for both 

China and U.S. industry, including aviation safety, air 

traffic management, airspace liberalization, general 

aviation, and environmental best practices. The 

Summit was the latest activity in USTDA’s China 

aviation program, which has contributed to over 

$4 billion in exports of U.S.-manufactured goods 

and services and continues to expand U.S. industry’s 

access to the world’s fastest growing aviation market.

Participants present the latest healthcare solutions available at the 

USTDA-sponsored e-health workshop in Kigali, Rwanda.

Mr. Richard Anderson, Chief Executive Officer of Delta Airlines, 

discusses the importance of closer aviation ties between the 

United States and China at the 2011 Summit.

Success Story: 

Egypt Forward:

Partnering for Trade 

and Economic Growth
12 U.S. TRADE AND DEVELOPMENT AGENCY

Project D evelopment program

Feasibility Studies and Pilot Projects: 

Gaining an Early Lead

Agency-funded and U.S.-led feasibility studies link foreign project sponsors with 

U.S. businesses at the critical early stage when technology options and project 

requirements are defined. These studies provide the comprehensive analysis required 

for major infrastructure investments to achieve financing and implementation.

In some cases, export opportunities depend on a 

demonstration of the U.S. seller’s goods, services, or 

technologies in the foreign buyer’s setting. USTDAfunded pilot projects demonstrate the effectiveness 

of U.S. solutions and provide the analysis, 

evaluation, and empirical data needed for potential 

foreign projects to secure funding. Pilot projects 

have proven to be an excellent tool to showcase U.S. 

capabilities.

Brazil. To help Brazil’s major electric power 

distribution companies increase efficiencies, 

USTDA provided grant assistance for a Smart 

Grid Pilot Implementation Strategy. The study is 

determining the technical and financial viability 

of deploying smart grid technologies, including 

the design of a pilot project and implementation 

strategy, and the specification of upgrades and 

investments necessary for CEMIG and LIGHT, 

two of Brazil’s largest distribution companies, to 

successfully develop smart grid measures. 

Ghana. U.S. companies are taking an active 

part in the growth of Ghana’s energy sector. 

In response to U.S. private sector interest and 

Ghana’s energy development needs, USTDA 

provided a grant to the Ghana Grid Company 

Limited for a feasibility study on the technical 

and economic viability of reinforcing Ghana’s 

electricity transmission network. 

The USTDA grant aims to create substantial 

business opportunities for U.S. companies in 

engineering, substation components, software and 

control systems, and transmission lines. The new 

power transmission line will not only improve the 

reliability of power in northern and eastern Ghana, 

but also should improve the economic viability of 

renewable energy projects near the new line’s path.

A Brazilian delegate receives a briefing on smart grid monitoring 

during a reverse trade mission. 
Photo credit: Jeff Hager

2011 ANNUAL REPORT 13

India. USTDA provided feasibility study funding 

to the Ministry of Home Affairs to establish an 

integrated emergency communications system 

in Hyderabad, India. The study is assessing the 

current emergency communications architecture 

as well as analyzing and planning a pilot project 

in Hyderabad. Project implementation presents 

significant opportunities for U.S. technology and 

service firms as India introduces new state-of-theart emergency communications systems. 

Turkey. As the Turkish economy continues its 

rapid growth, outpacing many other emerging 

markets, the country is engaging in an aggressive 

infrastructure program aimed at completion 

by 2023, when Turkey will celebrate its modern 

centennial. To help Turkey meet this goal, 

USTDA expanded its U.S.-Turkish Clean Energy 

Partnership with Turkey’s Ministry of Energy and 

Environment.

From supporting the development of a smart 

grid roadmap for Başkent Electricity Distribution 

Company to funding the feasibility study for a 

geothermal power plant with Zorlu Enerji, USTDA’s 

program positions U.S. companies to play an 

important role in Turkey’s power generation. 

These investments support over $100 million in 

new business opportunities for U.S. companies in 

Turkey and demonstrate the U.S. government’s 

broad commitment to expand trade and 

investment ties.

As the result of a feasibility study and associated 

reverse trade mission funded by USTDA, the 

Cartagena Refinery (REFICAR) received approval 

of a $2.8 billion loan/loan guarantee from the 

Export-Import Bank of the United States in 2011. 

This financing supports the purchase of equipment 

and services from over 150 large and small U.S. 

engineering/design, equipment supply, contracting, 

and process license firms, and supports about 

15,000 American jobs.

Already, Chicago Bridge & Iron (CB&I) has won 

a $1.4 billion engineering, procurement, and 

construction contract for the refinery expansion in 

the face of stiff foreign competition from companies 

in Korea, Argentina, and Italy. The project includes 

revamping the existing 80,000 barrel per day refinery 

to enable REFICAR to produce clean, ultra-low sulfur 

gasoline and diesel from heavy crude.

Cartagena’s oil refinery

Turkish delegation visits E-Solar’s facilities in Lancaster, CA.

Success Story: 

Colombia Refinery 

Fuels American Jobs
14 U.S. TRADE AND DEVELOPMENT AGENCY

Project D evelopment program

Technical Assistance: 

Translating Knowledge to Exports

USTDA advances economic development in partner countries by funding technical 

assistance that supports legal and regulatory reform related to commercial activities 

and infrastructure development, the establishment of industry standards, and other 

market-opening activities. These technical assistance programs facilitate favorable 

business and trade environments for U.S. goods and services. Technical assistance is 

a significant component of USTDA’s strategy for creating U.S. exports and U.S. jobs, 

while at the same time promoting growth in partner countries. 

Colombia. To support the modernization and 

expansion of Colombia’s largest and most important 

airport, El Dorado International Airport, USTDA 

provided a technical assistance grant to the Special 

Administrative Unit for Civil Aeronautics of Colombia 

(also known as Aerocivil) to update the airport’s 

master plan. Through this update, Aerocivil will 

receive a detailed report on capacity constraints 

and efficiency improvements needed at the airport. 

The update will also include recommendations for 

equipment, particularly related to terminal technology 

and security improvements that will represent 

significant export opportunities for U.S. firms in the 

aviation sector.

Nigeria. USTDA is partnering with the Central 

Bank of Nigeria (CBN) and the CIO Nexus, a working 

group established by the Chief Information Officers 

of many of Nigeria’s commercial banks, to explore and 

implement shared services among banks in order to 

modernize Nigeria’s banking system.

The initial effort will analyze the development of a 

Shared Disaster Recovery Center with the goal of 

improving data security and reliability in Nigeria’s 

financial sector, ultimately ensuring uninterrupted 

operation of Nigeria’s most important financial 

institutions in the event of a disaster. The assistance 

will create up to $17 million in business opportunities 

for U.S. exporters of hardware, networking equipment, 

software, and consulting and integration services, 

thus extending and reinforcing the strong U.S. 

presence in the Nigerian market.

Kenya. Kenya has developed significant 

telecommunications infrastructure in recent years, 

and internet use is rising rapidly. However, these 

improvements increase Kenya’s vulnerability to 

cyber attacks. Linking U.S. industry’s strengths 

with Kenya’s cybersecurity development needs, 

USTDA funded technical assistance on a National 

Cybersecurity Master Plan to provide a framework 

for the Government of Kenya to defend and secure 

Ongoing construction for the expansion of the El Dorado International Airport, located in Bogotá, Colombia.

Photo courtesy of Aerocivil
2011 ANNUAL REPORT 15

its digital infrastructure, as well as recommend 

minimum cybersecurity standards for the country’s 

private networks.

The assistance will benefit U.S. companies by 

providing Kenyan authorities an evaluation 

of various technologies, which will include 

assessment of interoperability, reliability, and 

life-cycle costing. To further support these efforts, 

USTDA sponsored a reverse trade mission for a 

delegation of senior Kenyan ICT decision makers 

to learn about U.S. best practices and innovative 

cyber security technologies.

India. To improve air navigation at the Chennai 

International Airport, USTDA is working with 

the Airports Authority of India (AAI) to support 

the certification and pilot implementation of a 

Ground Based Augmentation System (GBAS). The 

GBAS is a critical component of India’s air traffic 

management modernization and will enable AAI 

to handle increasing capacity with proper safety 

management. The training will assist AAI officials 

to gain operational experience evaluating the 

benefits of GBAS technology, while working in 

cooperation with Honeywell International.

Morocco. With vast renewable energy resources 

throughout the country, the Government of 

Morocco has committed $12.5 billion to develop 

six gigawatts of clean energy from solar, wind, 

and hydro sources by 2020. To position U.S. firms 

to play an active role in the deployment of this 

Mr. Willie Ngumi, U.S. Embassy in Kenya, speaks during a Kenya 

Cyber Security reverse trade mission. 

Helping Vietnam obtain Category I (CAT I) 

flight status under the FAA’s International 

Aviation Safety Assessment Program was the 

goal of USTDA’s multi‐year program on aviation 

safety for the Civil Aviation Administration of 

Vietnam (CAAV). The expert assistance has 

helped strengthen CAAV record keeping, 

licensing, and certification procedures.

In anticipation of operating longer distance 

flights, Vietnam Airlines has begun expanding 

its fleet with the purchase of Boeing aircraft, 

which has led to more than $1 billion in 

exports of U.S.-manufactured goods and 

services from Boeing and its hundreds of 

suppliers located throughout the country. 

Success Story: 

U.S. Exports Take Off 

in Vietnam

new power generation, USTDA funded three 

grants and one reverse trade mission to support 

a spectrum of opportunities: a concentrated solar 

power project; a solar photovoltaic pilot project; 

a project for distributed power generation in 

coastal villages; and a reverse trade mission to 

introduce senior representatives from Morocco 

and neighboring countries to advanced U.S. solar 

energy technologies.
16 U.S. TRADE AND DEVELOPMENT AGENCY

resources

Internet — www.ustda.gov

USTDA’s website provides comprehensive 

information on its program, current 

business opportunities, upcoming events, 

completed reports, Agency news, and recent 

publications.

Requests for Proposals (RFP)

USTDA posts RFP announcements about 

current business opportunities with the 

Agency and its overseas grant recipients on 

the Federal Business Opportunities (FBO) 

website at www.fbo.gov. Links to the FBO 

postings are available on USTDA’s website 

at www.ustda.gov. RFP packages may be 

requested electronically via USTDA’s website. 

On-Line Consultant Database

Many USTDA activities are reserved 

exclusively for small businesses. Small U.S. 

businesses interested in being considered 

for contracting opportunities with USTDA 

can register with the Agency’s On-line 

Consultant Database on the Agency’s 

website. Businesses should also register with 

the U.S. Government’s Central Contractor 

Registration website at www.ccr.gov.

Library

USTDA’s library maintains final reports of 

Agency-funded activities and can provide 

electronic copies of those reports upon 

request by e-mailing library@ustda.gov.

Furthermore, USTDA posts new reports 

directly on its website, www.ustda.gov. 

Publications

The Agency prints a quarterly newsletter 

and a biweekly eNewsletter to provide 

information about USTDA activities and 

events. A free subscription to the eNewsletter

is available on USTDA’s website. Requests 

for copies of printed publications can also be 

made via the Agency’s website.

Client Resources

Questions about USTDA

General inquiries about USTDA’s program can be made 

by calling (703) 875-4357, faxing (703) 875-4009, e-mailing 

info@ustda.gov, or completing the Contact Form on the 

Agency’s website.

To contact USTDA’s program staff, send an e-mail to your 

region of interest: 

•	 East Asia and Eurasia:

East_Asia_Eurasia@ustda.gov

•	 Latin America and the Caribbean:

LAC@ustda.gov

•	 Middle East, North Africa and Europe:

MENA_Europe@ustda.gov

•	 South and Southeast Asia:

South_Southeast_Asia@ustda.gov

•	 Sub-Saharan Africa:

Africa@ustda.gov

USTDA executives and department heads

To contact a USTDA Staff member, please call our main office 

line at 703-875-4357. 

Director. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Leocadia I. Zak 

Deputy Director. . . . . . . . . . . . . . . . . . . . . . . . . . . . . Peggy Philbin 

General Counsel. . . . . . . . . . . . . . . . . . . . . . . . . . . . . James A. Wilderotter 

Chief of Staff. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Christopher Wyant

Director for Policy and Program and 

Regional Director, East Asia and Eurasia. . . . Geoffrey Jackson

Director, Public Affairs and 

Congressional Relations. . . . . . . . . . . . . . . . . . . Thomas R. Hardy

Director for Export Promotion. . . . . . . . . . . . . . . Leila Afas

Regional Director, 

Latin America and the Caribbean. . . . . . . . . . Nathan Younge

Regional Director, 

Middle East, North Africa and Europe. . . . . Carl B. Kress

Regional Director, 

South and South East Asia. . . . . . . . . . . . . . . . . Henry Steingass 

Regional Director, 

Sub-Saharan Africa. . . . . . . . . . . . . . . . . . . . . . . . Paul Marin

Program Evaluations Director (Acting),

Office of Evaluations. . . . . . . . . . . . . . . . . . . . . . . Diana Rossiter

Grants Administrator,

Office of Grants Administration . . . . . . . . . . . Pat Daughetee

Chief Financial Officer. . . . . . . . . . . . . . . . . . . . . . Liz Gustafson

Contracts Office Manager, 

Office of Contracts . . . . . . . . . . . . . . . . . . . . . . . . Walter Knott

Administrative Officer

Office of Administration. . . . . . . . . . . . . . . . . . . Carolyn Hum

Chief Information Officer, 

Office of Information Technology. . . . . . . . . . Thomas R. Hardy
2011 ANNUAL REPORT 17

FY 2011 Program Activities Listed by Region

FY 2011 activities

USTDA ACTIVITIES

By Value of Obligations

2009 2010 2011

DM/Desk Studies $3,113,729 7.3% $3,359,888 6.8% $1,816,914 4.4%

Feasibility Studies $1 6,976,887 39.7% $22,783,352 46.1% $17,251,963 42.0%

Reverse Trade Mission $6,846,102 16.0% $8,720,844 17.7% $8,745,649 21.3%

Technical Assistance $12,938,397 30.2% $13,723,325 27.7% $11,355,473 27.6%

Trade-Related Training $1,178,642 2.8% $106,000 0.2% $300,000 0.7%

Workshop/Conferences $1,577,466 3.7% $511,850 1.0% $1,242,351 3.0%

Other $147,480 0.3% $265,784 0.5% $373,494 1.0%

Total $42,778,703 100% $49,471,032 100% $41,085,844 100%

USTDA ACTIVITIES BY ECONOMIC SECTOR

By Value of Obligations

2009 2010 2011

Agribusiness $ 2,320,892 5.4% $ 667,221 1.3% $819,070 2.0%

Clean Energy/Energy Efficiency $10,219,186 24.0% $ 22,453,434 45.4% $15,527,145 37.8%

Human Resources $ 737,901 1.7% $ 1,046,024 2.1% $1,558,479 3.8%

Manufacturing $ 784,718 1.8% $ 472,343 1.0% $290,058 0.7%

Mining & Natural Resources $ 2,177,019 5.1% $ 117,389 0.2% $846,899 2.0%

Multi-Sector & Other $ 902,588 2.1% $ 2,220,940 4.5% $947,000 2.3%

Services $ 2,419,958 5.6% $ 4,367,970 8.9% $4,220,618 10.3%

Telecommunications $ 2,738,199 6.4% $ 3,034,904 6.1% $4,429,963 10.8%

Transportation $ 16,426,031 38.4% $ 10,942,456 22.1% $11,018,381 26.8%

Water & Environment $ 4,052,211 9.5% $ 4,148,347 8.4% $1,428,231 3.5%

Total $ 42,778,703 100% $49,471,032 100% $41,085,844 100%

Funds

Country Title Activity U.S. Firm City State Obligated

East Asia and Eurasia 

Azerbaijan Aviation Safety Desk Study Montgomery Consulting Group, Inc. Winter Park FL 5,000

China 2011 U.S.-China Aviation Summit Conference/Workshop American Association of Airport Executives (AAAE) Alexandria VA 317,691

China Aviation Technical Assistance Workshop Series Desk Study Montgomery Consulting Group Maitland FL 3,000

China Integrated Real Time Water Monitoring System Feasibility Study Sutron Corporation Sterling VA 589,466

China General Aviation Development Implementation System Technical Assistance American Chamber of Commerce in China Fund Wilmington DE 429,654

China Environmental-Upgrades for Cement Manufacturing Reverse Trade Mission Global Marketing and Communications Arlington MA 224,200

China Integrated Real Time Water Monitoring System Desk Study Eurasia Environmental Associates, LLC Westfield NJ 3,000

China Mercury Emissions Control Technologies Reverse Trade Mission Global Marketing and Communications Arlington MA 202,988

China Pilot and Feasibility Study Demand Response Team Feasibility Study Honeywell Laboratories Golden Valley MN 660,000

China Public Infrastructure Emergency Management System Project Feasibility Study Intergraph Corporation Madison AL 613,241

China Health Cooperation Program Professional Personnel Exchange Program Reverse Trade Mission Technical Resources Inc. Bethesda MD 699,993

China Shandong Environmental Emergency Response System Feasibility Study Intergraph Corporation Madison AL 346,634

China State Grid Smart Grid Standards Development Technical Assistance General Electric International Schenectady NY 442,380

China U.S.-China Aviation Cooperation Program Phase VII, FAA Transfer Funds Technical Assistance Federal Aviation Administration (FAA) Washington DC 68,833

China U.S.-China Legal Advisory Assistance: Anti-Monopoly Law, Phase II Technical Assistance American Chamber of Commerce in China Fund Wilmington DE 150,000

China U.S. -China Legal Advisory Assistance: Anti-Monopoly Law, Phase II, Reimbursable Technical Assistance U.S. Department of Commerce Washington DC 68,384

China U.S.-China Aviation Cooperation Program Phase VII Desk Study Montgomery Consulting Group Maitland FL 11,000

China U.S.-China Aviation Cooperation Program Phase VII Technical Assistance American Chamber of Commerce in China Fund Wilmington DE 875,871

China U.S.-China Aviation Symposium 2011 Reverse Trade Mission Side Trips Reverse Trade Mission American Association of Airport Executives (AAAE) Alexandria VA 169,591

China USFCS Specialist Wan Xiaolei Technical Assistance U.S. Department of Commerce Washington DC 101,608

Georgia High Voltage Transmission Lines Desk Study CJ Aron Associates, Inc. Brooklyn NY 3,000

Kazakhstan National Medical Equipment Leasing Program Desk Study Omma Healthcare, LLC Golden CO 6,000

Kazakhstan Digital Technologies Reverse Trade Mission International Executive Service Corps Washington DC 139,772

Kazakhstan Gas Utilization Reverse Trade Mission Meridian International Center Washington DC 235,101

Kazakhstan Health Equipment Reverse Trade Mission Technical Resources Inc. Bethesda MD 284,880

Kazakhstan Pipeline Automation Reverse Trade Mission Energy Markets Group Washington DC 223,168

Moldova E-Government Reverse Trade Mission Elan International, LLC Wheaton MD 100,122

Turkmenistan Natural Gas and Petrochemicals Definitional Mission The Innovation Network LLC Lexington MA 79,998

Ukraine National Emergency Telephone Call Response System Desk Study Ascendant Program Services, LLC Bethesda MD 34,500

Ukraine Donetsk International Airport Improvement and Expansion Desk Study Airline Capital Associates, Inc. New York NY 2,000

Ukraine Emergency Management Reverse Trade Mission Koeppen, Elliott & Associates, Ltd. (KEA) Washington DC 230,175

Ukraine Enhanced Oil and Gas Recovery Definitional Mission Invenire, Inc. Houston TX 34,097

Ukraine National Emergency Telephone Call Response System Feasibility Study Winbourne and Costas, Inc. Arlington VA 649,394

Ukraine Sumy Waste Recycling and Refuse Derived Fuel Desk Study 3E Consulting LLC Columbia MD 6,000

Reg’l East Asia/Eurasia Eurasian Market Development II – Scott Greenip Technical Assistance Greenip, Scott 24,869

Reg’l East Asia/Eurasia Eurasian Market Development II – Geoffrey Jackson Technical Assistance Jackson, Geoffrey 6,509

Reg’l East Asia/Eurasia Advisory and Assistance Contract Technical Assistance Thomas Folsom Washington DC 51,994

Regional Eurasia Advisory and Assistance Contract Technical Assistance Brandon Megorden Washington DC 51,994

Regional Eurasia Kazakhstan and Azerbaijan Gas Utilization and Coal Bed Methane Definitional Mission Douglas M Shuster dba Emerging Markets Infrastructure, LLC Herndon VA 60,000

Total for East Asia and Eurasia $ 8,206,107

Summary of FY 2011 Program Activities

FY 2011 Program Activities Listed by Region
18 U.S. TRADE AND DEVELOPMENT AGENCY

FY 2011 Program Activities Listed by Region

Funds

Country Title Activity U.S. Firm City State Obligated

Latin America and Caribbean

Brazil Airport Sector Opportunities Definitional Mission Ascendant Program Services, LLC Bethesda MD 49,928

Brazil Aluminum Can Manufacturing Plant Desk Study Peoples Group, The Arlington VA 5,000

Brazil Aluminum Can Manufacturing Plant Feasibility Study Selection in progress 248,438

Brazil Intelligent Transport System Opportunities Definitional Mission HE Pena Jr, Transportation Consulting Charleston SC 50,000

Brazil Rio de Janeiro Government Information Technology Modernization and Integration Technical Assistance Selection in progress 675,000

Brazil Santo Andre Waste to Energy and Landfill Gas Recovery Facility Feasibility Study Selection in progress 469,000

Brazil Smart Grid Implementation Strategy Feasibility Study Selection in progress 710,000

Brazil Solar Technologies Reverse Trade Mission Millennium Science & Engineering, Inc. (MSE) Chantilly VA 76,674

Brazil USFCS Specialist Rodrigo Mota Technical Assistance US and Foreign Commercial Service (USFCS) Washington DC 195,060

Chile Cochrane-Puerto Montt Airspace and Aerodome Modernization Plan Feasibility Study Selection in progress 623,000

Chile Information and Communication Technologies Opportunities Definitional Mission Martin Morell New York NY 37,680

Chile Smart Grid Technologies and Policy Reverse Trade Mission MFM Lamey Group Miami FL 157,483

Colombia 20 MW Hybrid Solar and Wind Park Feasibility Study Selection in progress 592,000

Colombia Master Plan Update for El Dorado International Airport in Bogota Technical Assistance Selection in progress 891,840

Colombia Renewable Energy and Energy Efficiency Projects Definitional Mission N J Numark Associates Inc. dba Numark Associates, Inc. Washington DC 59,824

El Salvador CEL Solar Photovoltaic Power Pilot Project Feasibility Study Selection in progress 267,000

El Salvador Transportation Infrastructure Projects Definitional Mission Airline Capital Associates, Inc. New York NY 39,994

Haiti Priority Airport Projects Desk Study Montgomery Consulting Group Maitland FL 15,000

Mexico Baja California Wind Power Project Feasibility Study Selection in progress 374,000

Mexico Zacatecas Landfill Gas Pilot Project Feasibility Study Selection in progress 278,000

Mexico Zacatecas Wind Power Project Feasibility Study Selection in progress 501,000

Nicaragua Port of Corinto Competitiveness Upgrade Project Desk Study Sugin, Leonard C. E. New York NY 10,000

Panama Tocumen International Airport Strategic Development Plan Feasibility Study Selection in progress 734,685

Regional LAC Advisory and Assistance Contract Technical Assistance Isabel Sepulveda Washington DC 51,994

Regional LAC Caribbean Air Navigation System Modernization Desk Study Ascendant Program Services, LLC Bethesda MD 7,500

Regional LAC Coal Mine Menthane/Coal Bed Methane Projects in Colombia and Mexico Definitional Mission Affiliated Services International, LLC Indiana PA 65,000

Regional LAC Colombia and Haiti Port Security Technologies and VTM Information Systems Reverse Trade Mission Meridian International Center Washington DC 340,057

Regional LAC Hydroelectric Power Projects in Central America Definitional Mission H&M Engineering, Inc. Ellicott City MD 33,217

Regional LAC LAC Intelligent Transportation Systems Initiative Reverse Trade Mission Koeppen, Elliott & Associates, Ltd. (KEA) Washington DC 594,790

Regional LAC Geothermal Power Opportunities Desk Study Constant Group, LLC Maywood NJ 19,800

Regional LAC Advisory and Assistance Contract Technical Assistance Devin Conley Washington DC 23,126

Regional LAC Water Sector Opportunities in Brazil and Colombia Definitional Mission DHC Consulting LLC Blacksburg VA 64,824

Total for Latin America and Caribbean $ 8,260,914

Middle East, North Africa and Europe

Bulgaria Holtec Dry Storage for Spent Nuclear Fuel Desk Study Tecumseh Energy Services, Inc., USA Tecumseh MI 7,000

Egypt Water Sector Definitional Mission DHC Consulting LLC Blacksburg VA 49,964

Egypt EBC Biodigesters Desk Study Constant Group, LLC Maywood NJ 7,000

Egypt EBC Biodigesters Feasibility Study Selection in progress 283,000

Egypt Egypt Forward Technical Workshops Conference/Workshop MFM Lamey Group Miami FL 555,355

Egypt US-Egypt Business and Trade Facilitation Initiative Reverse Trade Mission International Executive Service Corps Washington DC 842,924

Iraq Basra Refinery Rehabilitation Feasibility Study Shaw Energy and Chemicals, Inc. Houston TX 502,798

Iraq Basra Refinery Rehabilitation Desk Study INTRATECH McLean VA 5,000

Iraq Oil Sector Procurement and Inspection Reverse Trade Mission Meridian International Center Washington DC 196,646

Jordan Technical Evaluation for the Jordanian Electrical System Technical Assistance Nexant, Inc. San Francisco CA 46,000

Jordan Electronic Health Records Feasibility Study Samara Consulting, LLC Falls Church VA 567,605

Jordan Power Sector Projects Desk Study Constant Group, LLC Maywood NJ 9,750

Jordan Smart Card Technology Desk Study Network Dynamics Associates, LLC Weston CT 3,000

Jordan Technical Evaluation for the Jordanian Electrical System Desk Study Constant Group, LLC Maywood NJ 3,000

Morocco Clean and Renewable Energy Sector Definitional Mission CJ Aron Associates, Inc. Brooklyn NY 48,300

Morocco ONHYM Shale Gas Development Desk Study Merklein & Associates, Inc. Washington DC 6,800

Morocco Distributed Power Generation/Fresh Water Production Technical Assistance Nexant, Inc. San Francisco CA 551,880

Morocco Essaouira Solar Photovoltaic Power Project Technical Assistance Power Engineers, Inc. Hailey ID 631,000

Morocco MASEN Concentrated Solar Power Project Technical Assistance Selection in progress 651,886

Morocco Ports VTM and Security and Surveillance Systems Desk Study Infotel International Reston VA 2,950

Morocco Ports Sector Definitional Mission Interdisciplinary Research Consultants Westerville OH 49,965

Romania Aviation Sector Definitional Mission KED Group Columbia SC 49,925

Romania Coal Mine Methane Co-Generation Power Plants Desk Study Appropriate Energy Management, Inc. West Jefferson OH 7,000

Romania Information and Communication Technology (ICT) Projects Definitional Mission Actionable Strategies LLC New York NY 49,340

Romania SCADA Water Management Pilot Project Desk Study Millennium Science & Engineering, Inc. (MSE) Chantilly VA 3,000

Romania Portable Emergency Collaboration and Communications Technology Pilot Study Feasibility Study Selection in progress 400,000

Romania Smart Grid Projects Definitional Mission CJ Aron Associates, Inc. Brooklyn NY 47,500

Serbia & Montenegro Biomass 5MW CHP Plant Desk Study CJ Aron Associates, Inc. Brooklyn NY 3,000

Turkey Alasehir Geothermal Power Plant Feasibility Study Veizades and Associates, Inc. San Francisco CA 393,927

Turkey Alasehir Geothermal Power Plant Desk Study Constant Group, LLC Maywood NJ 7,000

Turkey Coal Gasification Project Feasibility Study Worley Parsons Group, Inc. Reading PA 74,850

Turkey Coal Gasification Project Desk Study Energy Markets Group Washington DC 3,000

Turkey Coalbed Methane Extraction and Utilization Desk Study CORE International Washington DC 7,000

Turkey Energy Efficiency and Renewable Energy Definitional Mission ENERCON America Chicago IL 49,998

Turkey Intermodal Transportation Sector Definitional Mission TERA International Group, Inc. Sterling VA 50,000

Turkey Near-Zero Zone Energy Efficiency and Power Plant Expansion Technical Assistance Burns and Roe Oradell NJ 403,640

Turkey Smart Grid Applications in Power Distribution Feasibility Study Selection in progress 201,606

West Bank Hebron Wastewater Treatment Plant Desk Study Millennium Science & Engineering, Inc. (MSE) Chantilly VA 5,000

West Bank Public Sector Information and Communications Technology Modernization Feasibility Study Network Dynamics Associates, LLC Weston CT 567,019
2011 ANNUAL REPORT 19

FY 2011 Program Activities Listed by Region

Funds

Country Title Activity U.S. Firm City State Obligated

Regional MENAE Maghreb Solar Reverse Trade Mission Millennium Science & Engineering, Inc. (MSE) Chantilly VA 261,231

Regional MENAE Advisory and Assistance Contract Technical Assistance Hubbard, Peter Arlington VA 51,898

Regional MENAE Advisory and Assistance Contract Technical Assistance Kendra Kintzi Washington DC 51,994

Regional MENAE Romania and Bulgaria Smart Grid Reverse Trade Mission Energy Markets Group Washington DC 249,948

Regional MENAE Global Diaspora Forum Technical Assistance U.S. Department of State Washington DC 20,000

Total for Middle East, North Africa and Europe $ 7,979,699

South And Southeast Asia

India 2011 U.S.-India Aviation Partnership Symposium Conference/Workshop Business Council for International Understanding (BCIU) New York NY 369,306

India Air Traffic Flow Management System Desk Study KED Group Columbia SC 6,000

India Bankura and Belgaum Solar Photovoltaic Project Feasibility Study Selection in progress 719,985

India BESCOM Smart Grid Feasibility Study Selection in progress 453,350

India Cold Chain Infrastructure Reverse Trade Mission Peoples Group, The Arlington VA 254,347

India Diesel Retrofit Project Desk Study TRS International Great Falls VA 3,000

India DGCA Technical and Managerial Development Expansion Program Desk Study Montgomery Consulting Group Maitland FL 10,000

India Efficiency and Clean Energy Exchange Program Reverse Trade Mission Koeppen, Elliott & Associates, Ltd. (KEA) Washington DC 636,186

India Transfer Agreement for Technical Management and Operational Development – FAA Technical Assistance Federal Aviation Administration (FAA) Washington DC 114,256

India Ground Based Augmentation System Pilot Project Technical Assistance Honeywell International 407,325

India Integrated Emergency Communications System Feasibility Study OST, Inc. Washington DC 645,944

India North Delhi Power Limited Smart Grid Feasibility Study Selection in progress 686,447

India NTPC Geothermal Power Plant Project Desk Study Constant Group, LLC Maywood NJ 7,000

India South Asia Foreign Service National Position Technical Assistance Selection in progress 102,500

India Technical, Management and Operational Development Training (TMODT) Program Technical Assistance Hi-Tec Systems, Inc. Egg Harbor Township NJ 387,282

Indonesia Air Traffic Control Reverse Trade Mission MFM Lamey Group Miami FL 221,911

Indonesia Rail Signaling and Telecommunications Systems Technical Assistance Selection in progress 593,954

Mongolia Aviation Executive Airline Management Training Technical Assistance Selection in progress 400,000

Mongolia Aviation Executive Airline Management Training Desk Study Montgomery Consulting Group Maitland FL 6,000

Philippines Waste-to-Energy Facilities Feasibility Study Sinova Capital LLC. Seattle WA 646,285

Sri Lanka Solar Power Community Water Supply Pilot Desk Study Millennium Science & Engineering, Inc. (MSE) Chantilly VA 3,000

Thailand Rail Sector Modernization Reverse Trade Mission TERA International Group, Inc. Sterling VA 202,268

Vietnam Air Traffic Management and Control Systems Reverse Trade Mission American Association of Airport Executives (AAAE) Alexandria VA 275,939

Vietnam Chu Lai Airport Feasibility Study Selection in progress 538,886

Vietnam Cloud Computing Data Center Feasibility Study Pathway Systems, LLC Clayton MO 402,675

Vietnam Energy Sector Definitional Mission Walter I. Serbetci dba ENERCON America Chicago IL 64,993

Vietnam Transport Sector Definitional Mission KED Group Columbia SC 64,973

Vietnam USFCS Specialist Technical Assistance US and Foreign Commercial Service (USFCS) Washington DC 29,512

South & South East Asia Transportation Sector Definitional Mission TERA International Group, Inc. Sterling VA 65,000

Regional Asia Business Development Manager Technical Assistance Mark Dunn Baltimore MD 172,702

Regional Asia Regional Office, Bangkok, Thailand Other U.S. Department of State 116,200

Regional Asia Advisory and Assistance Contract Technical Assistance John Liszewski Washington DC 51,994

Regional Asia Storage Other Joe Mohollad Moving Woodbridge VA 1,035

Regional Asia Water and Wastewater Management Definitional Mission Green Power Systems, LLC Newcastle WA 79,472

Total for South and Southeast Asia $ 8,739,727

Sub-Saharan Africa

Angola Electricity Distribution Modernization Desk Study Douglas M Shuster dba Emerging Markets Infrastructure, LLC Herndon VA 2,000

Angola Housing Construction Sector Reverse Trade Mission Global Marketing and Communications Arlington MA 36,620

Angola Locomotive Remanufacturing Feasibility Study Selection in progress 410,000

Angola Particleboard Production Desk Study Solana Incorporated Portland ME 4,975

Burkina Faso National ICT Backbone Network Feasibility Study Futron Corporation Bethesda MD 186,000

Ghana Branchless Banking Technical Assistance Selection in progress 496,000

Ghana Expansion of Meteorological Services Desk Study Montgomery Consulting Group Maitland FL 5,000

Ghana Eastern Transmission Line Feasibility Study Selection in progress 645,000

Ghana Expansion of Meteorological Services Feasibility Study I.M. Systems Group, Inc. Rockville MD 49,000

Ghana Floating LNG Storage and Regasification Unit Feasibility Study Selection in progress 691,000

Ghana Kotoka International Airport Air Traffic Control Center Desk Study Ronald F. Price dba QED Airport & Aviation Consultants Amelia Island FL 5,000

Ghana Kotoka International Airport Terminal Refurbishment Desk Study Ronald F. Price dba QED Airport & Aviation Consultants Amelia Island FL 5,000

Ghana Kotoka Int’l Airport Terminal Refurbishment Project Technical Assistance Selection in progress 600,000

Kenya Information and Communications Technology Desk Study Martin Morell New York NY 6,600

Kenya Kariobangi Wastewater Treatment and Energy Recovery Facility Desk Study Alejandro J. Gonzalez dba AJGB International Inc. Bellevue WA 7,500

Kenya Kariobangi Wastewater Treatment and Energy Recovery Facility Feasibility Study Selection in progress 371,508

Kenya National Cybersecurity Master Plan Technical Assistance Selection in progress 580,000

Madagascar Upstream Volobe Hydroelectric Power Desk Study Constant Group, LLC Maywood NJ 5,000

Malawi Power Sector Opportunities Reverse Trade Mission CORE International Washington DC 274,187

Mauritius CEB Transmission Grid and Transformer Monitoring System Feasibility Study Stanley Consulting Muscatine IA 114,220

Mauritius CEB Transmission Grid and Transformer Monitoring System Desk Study CORE International Washington DC 10,000

Namibia 50 MW Concentrated Solar Power Plant Desk Study Constant Group, Inc. Maywood NJ 7,500

Namibia Van Eck Power Plant Rehabilitation Feasibility Study Black & Veatch Corporation Overland Park KS 45,000

Namibia Van Eck Power Plant Rehabilitation Desk Study Core International, Inc. Washington DC 2,500

Nigeria Gas Storage and Processing Reverse Trade Mission MFM Lamey Group Miami FL 132,456

Nigeria Hydropower Development Desk Study Core International, Inc. Washington DC 5,000

Nigeria Lagos State CNG Vehicles Desk Study Douglas M Shuster dba Emerging Markets Infrastructure, LLC Herndon VA 5,000
20 U.S. TRADE AND DEVELOPMENT AGENCY

FY 2011 Program Activities Listed by Region

Funds

Country Title Activity U.S. Firm City State Obligated

Nigeria Shared Disaster Recovery Services Technical Assistance Selection in progress 510,000

Nigeria Drivers License Issuance and Management System Trade-Related Training Selection in progress 300,000

Nigeria Western Nigeria Gas Pipeline Desk Study Invenire, Inc. Houston TX 5,000

Rwanda Banque Nationale Du Rwanda ICT Modernization Desk Study Global Resources, Inc. Irvine CA 6,000

South Africa Coega LNG Regasification and Power Generation Project Reverse Trade Mission Global Marketing and Communications Arlington MA 83,524

South Africa Mine Water Management Reverse Trade Mission Millennium Science & Engineering, Inc. (MSE) Chantilly VA 184,679

South Africa Rolling Stock Modernization Desk Study David Burns dba David Burns Railway Consulting River Forest IL 9,700

South Africa Smart Grid Definitional Mission James T. Reilly Red Bank NJ 25,000

South Africa Smart Grid Reverse Trade Mission MFM Lamey Group Miami FL 314,902

South Africa Water Supply and Management Definitional Mission Performance Technology Lewiston ME 58,842

Tanzania Bank of Tanzania ICT Modernization Desk Study Martin Morell New York NY 3,000

Tanzania Waste Stream Commercialization Desk Study Constant Group, LLC Maywood NJ 5,000

Regional SSA Agribusiness Reverse Trade Mission Peoples Group, The Arlington VA 215,153

Regional SSA Capital Markets Integration, Nigeria and Ghana Stock Exchanges Desk Study Martin Morell New York NY 4,750

Regional SSA Advisory and Assistance Contract Technical Assistance Elizabeth “Lisa” Bonnikson Danville CA 51,994

Regional SSA East African Community Financial Integration Reverse Trade Mission Business Council for International Understanding (BCIU) New York NY 228,998

Regional SSA East and Southern African Airspace Integration Reverse Trade Mission Millennium Science & Engineering, Inc. (MSE) Chantilly VA 219,732

Regional SSA Regional Office, Johannesburg, South Africa Other U.S. Department of State 208,000

Regional SSA Invitational Travel Other Citibank Government Commerce Services Columbus OH 3,000

Regional SSA Kenya and South Africa, Transportation Sector Definitional Mission HE Pena Jr, Transportation Consulting Charleston SC 75,000

Regional SSA Kenya and Uganda ICT Definitional Mission RG International Technology Consulting, LLC (RGITC, LLC) Centreville VA 64,253

Regional SSA Storage Other Joe Mohollad Moving Woodbridge VA 1,609

Regional SSA Storage Technical Assistance JK Moving & Storage, Inc. Sterling VA 150

Regional SSA Southern Africa Railways Workshop Reverse Trade Mission TERA International Group, Inc. Sterling VA 235,000

Regional SSA Business Development Manager Technical Assistance Jason Nagy Dulles VA 138,401

Total for Sub-Saharan Africa $ 7,653,753

Worldwide

Worldwide Travel Insurance Other USI Insurance Services dba USI Affinity Walnut Creek CA 19,000

Worldwide IQC Contract for Conferences, Workshops, RTM, Training and Other Events Technical Assistance USTDA IQC Contractors 150,000

Worldwide RETECH 2011 Other Access Intelligence, LLC dba Trade Fair Group Rockville MD 4,250

Worldwide GO Global IV Conference, Rockford, IL Other Rockford Area Economic Development Council dba GO GLOBAL Rockford IL 400

Worldwide Advisory and Assistance Contract Technical Assistance Veronica Faust Consulting Washington DC 51,994

Worldwide Travel Insurance Services Other USI Insurance Services dba USI Affinity Walnut Creek CA 20,000

Total for Worldwide: $ 245,644

Grand Total: $41,085,844
2011 ANNUAL REPORT 21

Independent Auditors’ Report

The Director

U.S. Trade and Development Agency:

We have audited the accompanying balance sheets of the U.S. Trade and Development Agency (USTDA) as of 

September 30, 2011 and 2010, and the related statements of net cost, changes in net position, and combined statements of budgetary resources (hereinafter referred to as “financial statements”) for the years then ended. These 

financial statements are the responsibility of the USTDA’s management. Our responsibility is to express an opinion 

on these financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted in the United States of America; 

the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller 

General of the United States; and Office of Management and Budget (OMB) Bulletin No. 07-04, Audit Requirements 

for Federal Financial Statements, as amended. Those standards and OMB Bulletin No. 07-04 require that we plan 

and perform the audits to obtain reasonable assurance about whether the financial statements are free of material 

misstatement. An audit includes consideration of internal control over financial reporting as a basis for designing 

audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the 

effectiveness of the USTDA’s internal control over financial reporting. Accordingly, we express no such opinion. An 

audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating 

the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the USTDA as of September 30, 2011 and 2010, and its net costs, changes in net position, and budgetary 

resources for the years then ended in conformity with U.S. generally accepted accounting principles.

The information in the Management’s Discussion and Analysis is not a required part of the financial statements, but 

is supplementary information required by U.S. generally accepted accounting principles. We have applied certain 

limited procedures, which consisted principally of inquiries of management regarding the methods of measurement 

and presentation of this information. However, we did not audit this information and, accordingly, we express no 

opinion on it.

The information in the Other Accompanying Information section is presented for purposes of additional analysis and 

is not required as part of the financial statements. This information has not been subjected to auditing procedures 

and, accordingly, we express no opinion on it.

In accordance with Government Auditing Standards, we have also issued our reports dated November 9, 2011 on our 

consideration of the USTDA’s internal control over financial reporting and our tests of its compliance with certain 

provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of those reports 

is to describe the scope of our testing of internal control over financial reporting and compliance and the results of 

that testing, and not to provide an opinion on the internal control over financial reporting or on compliance. Those 

reports are an integral part of an audit performed in accordance with Government Auditing Standards and should be 

read in conjunction with this report in assessing the results of our audits.

November 9, 2011 

KMPG LLP

2001 M Street, NW

Washington, DC 20036
22 U.S. TRADE AND DEVELOPMENT AGENCY

Assets FY 2011 FY 2010 

Intragovernmental:

Fund balance with Treasury (Note 2) $ 107,439,008 $ 113,252,004 

Accounts receivable, net (Note 3) — 26,925

 Total intragovernmental 107,439,008 113,278,929

Accounts receivable, net (Note 3) 88 —

General property and equipment, net (Note 4) 377,799 517,085

 Total assets $ 107,816,895 $ 113,796,014

Liabilities and Net Position

Liabilities

Intragovernmental:

 Accounts payable (Note 5) $ 270,000 $ 74,007

 Other liabilities (Notes 2 and 5) 11,674 28,126

 Total intragovernmental 281,674 102,133

Accounts payable (Note 5) 6,895,481 8,087,922

Other liabilities (Note 5) 736,140 930,867

 Total liabilities 7,913,295 9,120,922

Net position:

Unexpended appropriations 100,017,436 104,631,325

Cumulative results of operations (113,836) 43,767

 Total net position 99,903,600 104,675,092

 Total liabilities and net position $ 107,816,895 $ 113,796,014

The accompanying notes are an integral part of these statements. 

U.S. TRADE AND DEVELOPMENT AGENCY

Balance Sheets

As of September 30, 2011 and 2010
2011 ANNUAL REPORT 23

U.S. TRADE AND DEVELOPMENT AGENCY

Statements of Net Cost

For the years ended September 30, 2011 and 2010

FY 2011 FY 2010 

Cost of Operations:

Grants program costs $ 53,123,988 $ 56,465,192

Less earned revenue — —

 Net cost of operations (Notes 6 and 11) $ 53,123,988 $ 56,465,192 

The accompanying notes are an integral part of these statements. 
24 U.S. TRADE AND DEVELOPMENT AGENCY

U.S. TRADE AND DEVELOPMENT AGENCY

Statements of Changes in Net Position

For the years ended September 30, 2011 and 2010

FY 2011 FY 2010 

Cumulative results of operations:

Beginning balances $ 43,767 $ 6,870

Budgetary financing sources

 Appropriations used 52,564,787 56,110,429

Other financing sources:

 Imputed financing 401,598 391,660

 Total financing sources 52,966,385 56,502,089

Net cost of operations (53,123,988) (56,465,192)

Net change (157,603) 36,897

Ending balances $ (113,836) $ 43,767

Unexpended appropriations:

Beginning balances $ 104,631,325 $ 101,289,856

Adjustment to beginning balance: 10,261 —

 Adjusted beginning balance 104,641,586 101,289,856

Budgetary financing sources:

 Appropriations received 50,000,000 55,200,000

 Appropriations transferred in/out 2,050,000 7,250,000

 Other adjustments (rescissions and 

cancellation of expired funds) 

(4,109,363) (2,998,102) 

 Appropriations used (52,564,787) (56,110,429)

 Total budgetary financing sources (4,624,150) 3,341,469

 Total unexpended appropriations $ 100,017,436 $ 104,631,325

 Net position $ 99,903,600 $ 104,675,092

The accompanying notes are an integral part of these statements. 
2011 ANNUAL REPORT 25

U.S. TRADE AND DEVELOPMENT AGENCY

Statements of Budgetary Resources

For the years ended September 30, 2011 and 2010

FY 2011 FY 2010 

Budgetary resources:

Unobligated balance, brought forward, October 1 $ 6,690,288 $ 6,330,098

Adjustment to beginning balance brought forward — 10,261

Recoveries of prior year unpaid obligations 8,018,027 5,001,677 

Budget authority:

 Appropriations 50,000,000 55,200,000

Spending authority from offsetting collections:

 Collected — —

Change in receivables from federal sources (26,925) 26,925

Nonexpenditure transfers 2,050,000 7,250,000

Permanently not available:

 Enacted Reduction (100,000) —

 Cancellation of expired accounts (4,009,363) (2,998,103) 

 Total budgetary resources $ 62,622,027 $ 70,820,858 

Status of budgetary resources:

Obligations incurred:

 Direct (Note 7) $ 54,620,592 $ 64,130,570 

Unobligated balance available:

 Apportioned (Notes 2, 8 and 10) 3,854,997 2,889,608

Unobligated balance not available (Note 2) 4,146,438 3,800,680 

 Total status of budgetary resources $ 62,622,027 $ 70,820,858 

Change in obligated balance:

Unpaid obligations, brought forward, October 1 $ 106,560,515 $ 102,101,873 

Adjustment to unobligated balance brought forward 338 (10,261)

Obligations incurred 54,620,592 64,130,570 

Less: Gross outlays (53,737,519) (54,659,990) 

Less: Recoveries of prior years’ obligations (8,018,027) (5,001,677) 

 Obligated balance – end of the period 99,425,899 106,560,515 

Less: Uncollected customer payments from federal sources — (26,925) 

 Obligated balance, net – end of the period (Note 9) 99,425,899 106,533,590

Net Outlays:

 Gross outlays $ 53,737,519 $ 54,659,990 

 Less: Offsetting collections — — 

 Net outlays $ 53,737,519 $ 54,659,990 

The accompanying notes are an integral part of these statements. 
26 U.S. TRADE AND DEVELOPMENT AGENCY

(1) Summary of Significant Accounting Policies

(a) Description of Reporting Entity

The U.S. Trade and Development Agency (USTDA or the Agency) is an independent U.S. government 

agency administered under the authority of Section 661 of the Foreign Assistance Act of 1961, as amended 

(22 U.S.C. §2421).

USTDA helps U.S. companies create jobs through export of U.S. goods and services for priority development 

projects in emerging economies. USTDA links U.S. businesses to export opportunities by funding project 

planning activities, pilot projects, and reverse trade missions while creating sustainable infrastructure and 

economic growth in partner countries.

The organization was established on July 1, 1980 as the U.S. Trade and Development Program (TDP) by 

delegation of authority as a component of the International Development Cooperation Agency (IDCA). 

In 1988, under the Omnibus Trade and Competitiveness Act, the organization was a separate component 

agency of IDCA. On October 28, 1992, the Jobs Through Exports Act of 1992 established USTDA as an 

independent agency under the foreign policy guidance of the Secretary of State.

(b) Basis of Presentation

These financial statements have been prepared to report the financial position, net costs, changes in net 

position, and budgetary resources of USTDA, as required by its authorizing legislation (Public Law 102-549, 

Title II). These financial statements include all activity related to USTDA’s appropriation (No. 11-1001) and 

reimbursable interagency agreements, whereby USTDA receives transfers from other federal agencies for 

use in specific regions or sectors.

(c) Budgets and Budgetary Accounting

Congress annually adopts a budget appropriation that provides USTDA with authority to use funds from 

the U.S. Treasury to meet operating and program expense requirements. All revenue received from other 

sources, except for appropriations transferred from other federal agencies, must be returned to the U.S. 

Treasury.

(d) Basis of Accounting

USTDA’s Balance Sheet, Statement of Net Cost, and Statement of Changes in Net Position are prepared 

using the accrual basis of accounting. This basis requires recognition of the financial effects of transactions, 

events, and circumstances in the periods when those transactions, events, and circumstances occur, 

regardless of when cash is received or paid. USTDA also uses budgetary accounting to facilitate compliance 

with legal constraints and to track its budget authority at the various stages of execution, including 

commitments, obligation, and eventual outlay. The Statement of Budgetary Resources is prepared using 

budgetary accounting methods.

The standards used in the preparation of the accompanying financial statements are issued by the Federal 

Accounting Standards Advisory Board, which represent accounting principles generally accepted in the 

United States of America for U.S. government entities.

(e) Appropriations and Other Financing Sources

Appropriations are recognized as a financing source at the time they are authorized and apportioned. 

Appropriations used to fund grant activities and administrative expenses are recognized as expenses and 

revenue as the resultant related expenses are incurred.

During each of FY 2010 and FY 2011, USTDA received an appropriation to be used for program and 

administrative expenses, which are available for obligation through September 30, 2011 and 2012, 

respectively. These funds were appropriated in accordance with Section 7011 of the Department of State, 

Foreign Operations, and Related Programs Appropriations Act, 2010 and Section 2114 of the Department of 

Defense and Full-Year Continuing Resolution Act, 2011 (“The Acts”). Beginning with FY 2008 appropriations, 

the Acts allow de-obligated funds that were initially obligated prior to their expiration to remain available for 

re-obligation for an additional 4 years from the date on which the availability of such funds would otherwise 

have expired. In FY 2011, USTDA re-apportioned approximately $1.3 million of FY 2008 de-obligations and 

approximately $1.4 million of FY 2009 de-obligations. 

U.S. TRADE AND DEVELOPMENT AGENCY

Notes to Financial Statements

September 30, 2011 and 2010
2011 ANNUAL REPORT 27

U.S. TRADE AND DEVELOPMENT AGENCY

Notes to Financial Statements

September 30, 2011 and 2010

Funds transferred from the U.S. Agency for International Development (USAID) for Support for East 

European Democracy Act (SEED), Economic Support Funds (ESF), and the Freedom Support Act (FSA) 

during FY 2002-2005, are available for reobligation in the manner described in the preceding paragraph. 

SEED, ESF, and FSA funds for FY 1999-2001 that were initially obligated prior to their expiration remain 

available for re-obligation until expended. 

(f) Fund Balance with Treasury

USTDA does not maintain cash in commercial bank accounts. The U.S. Treasury processes cash receipts 

and disbursements. The balance of funds with Treasury primarily represents appropriated funds that are 

available to pay current liabilities and finance authorized purchase commitments relative to goods or 

services.

(g) Property and Equipment

Property and equipment is stated at cost, less accumulated depreciation. USTDA capitalizes property and 

equipment with an acquisition cost greater than $5,000 and useful life exceeding one year. Depreciation is 

calculated using the straight-line method and is based on an estimated useful life of 10 years for all assets, 

except computer equipment and software, which is depreciated over 5 years. Leasehold improvements 

are amortized over the estimated period of occupancy or the life of the improvement, whichever is less. 

Expenditures for repairs and maintenance are charged to operating expenses as incurred.

(h) Liabilities

Liabilities represent amounts owed by USTDA as the result of transactions or events that have occurred as 

of fiscal year end. Liabilities covered by budgetary or other resources are those liabilities for which Congress 

has appropriated funds or funding is otherwise available to pay amounts owed. Liabilities not covered by 

budgetary or other resources represent amounts owed in excess of available, congressionally appropriated 

funds or other amounts. The liquidation of liabilities not covered by budgetary or other resources is 

dependent on future congressional appropriations or other funding. There is no certainty that Congress will 

appropriate funds to satisfy such liabilities. 

USTDA has no capital leases. Regarding its building lease, the General Services Administration (GSA) 

entered into a lease agreement for USTDA’s rental of building space. USTDA pays GSA a standard-level 

users’ charge for the annual rental. The standard-level users’ charge approximates the commercial rental 

rates for similar properties. Average annual rent expense and related charges are approximately $1.5 million 

through 2012.

(i) Undelivered Orders

Undelivered orders represent the amount of orders for goods and services outstanding for which funds have 

been obligated, but the liabilities have not been incurred.

(j) Accrued Leave 

Annual leave is accrued as a liability as it is earned. The liability is reduced as leave is taken. Each year, 

the balance in the accrued annual leave account is adjusted to reflect current year pay rates. To the extent 

that the current or prior year appropriations are not available to fund annual leave earned, but not taken, 

funding will be obtained from future appropriations. USTDA’s handling of annual leave earned, but not taken 

is compliant with established regulations. Sick leave and other types of non-vested leave are charged to 

expense as the leave is used.

(k) Cumulative Results of Operations

Cumulative results of operations represent the difference between net property and equipment and 

unfunded annual leave, plus the net difference between expenses and financing sources since the inception 

of an activity.
28 U.S. TRADE AND DEVELOPMENT AGENCY

U.S. TRADE AND DEVELOPMENT AGENCY

Notes to Financial Statements

September 30, 2011 and 2010

(l) Retirement Plan

USTDA’s employees participate in either the Civil Service Retirement System (CSRS) or the Federal 

Employees’ Retirement System (FERS). Employees participating in CSRS contribute 7.0 percent of their 

gross pay to the plan, and USTDA contributes 8.51 percent. The cost of providing a CSRS benefit, which 

is 30.1 percent as computed by the Office of Personnel Management (OPM), is more than the amounts 

contributed by USTDA and its employees. In accordance with Statement of Federal Financial Accounting 

Standard (SFFAS) No. 5, Accounting for Liabilities of the Federal Government, USTDA reports the full cost of 

providing pension benefits to include the cost financed by OPM.

On January 1, 1987, FERS went into effect pursuant to Public Law 99-335. Most employees hired after 

December 31, 1983 are automatically covered by FERS and the Social Security Act. Employees hired prior 

to January 1, 1984 could elect either to join FERS and the Social Security Act or remain in CSRS. A primary 

feature of FERS is that it offers a savings plan in which USTDA automatically contributes 1 percent of 

employees’ pay and matches any employee contribution up to an additional 4 percent of basic pay. For most 

employees hired since December 31, 1983, USTDA also contributes the employer’s matching share under 

the Social Security Act. For the FERS basic benefit, the employees contribute 0.8 percent of their basic pay 

while USTDA contributes 11.2 percent for a total contribution rate of 12 percent. The cost of providing a FERS 

benefit, as computed by OPM is 13.8 percent.

The total amount of imputed financing for retirement and other post-retirement benefits paid by OPM for 

FY 2011 amounted to $401,598 which includes $150,534 for pension cost for CSRS and FERS; $250,174 

for the Federal Employees Health Benefits (FEHB) Program; and $890 for Federal Employees Group Life 

Insurance (FEGLI). These amounts are included in USTDA’s FY 2011 financial statements. In FY 2010, OPM 

funded $391,660 to pension, health, and life insurance benefits on behalf of USTDA’s employees. 

The actuarial present value of accumulated benefits, assets available for benefits, and unfunded pension 

liability of CSRS and FERS is not allocated to individual departments and agencies and is therefore not 

disclosed by USTDA. The reporting of these amounts is the responsibility of OPM. USTDA has properly 

computed this amount and recorded a liability for it.

USTDA paid approximately $500,230 and $446,690 for retirement system coverage for its employees 

during FY 2011 and FY 2010, respectively.

(m) Use of Estimates

Management has made certain estimates and assumptions when reporting in these financial statements 

on assets and liabilities. They are also used in expenses and note disclosures. Actual results could differ 

from these estimates. Significant estimates underlying the accompanying financial statements include 

depreciable lives of property and equipment with no residual value, and the grants payable accrual. USTDA 

uses a ratio of the average of accounts payable to unpaid obligations over a three year period and applies the 

resulting percentage to calculate the current year’s estimate of accounts payable.
2011 ANNUAL REPORT 29

(2) Fund Balance with Treasury

Fund Balance with Treasury represents USTDA’s undisbursed budgetary authority and funds to be returned to 

Treasury at September 30, 2011 and 2010, as follows:

FY 2011 FY 2010 

Fund balances:

Appropriated funds $ 107,427,334 $ 113,223,878 

Miscellaneous Receipts 11,674 28,126

 Total $ 107,439,008 $ 113,252,004 

Status of fund balance with Treasury:

Unobligated balance:

 Available $ 3,854,997 $ 2,889,608 

 Unavailable 4,146,438 3,800,680 

Obligated balance not yet disbursed 99,425,899 106,533,590 

Non-budgetary 11,674 28,126 

 Total $ 107,439,008 $ 113,252,004 

Unobligated fund balances are either available or not available. Amounts are reported as not available when they 

are no longer legally available to USTDA for obligation. However, balances that are currently reported as not 

available can change over time, because they may be used to increase the amount of the initial obligation to cover 

additional expenditures that relate to these obligations.

(3) Accounts Receivables

Accounts receivables at September 30, 2011 and 2010 consist of the following components:

FY 2011 FY 2010 

Accounts receivable, net $ 88 $ 26,925 

 Total Receivable and Advances $ 88 $ 26,925 

FY  2011 accounts receivable represents an employee health insurance premium which will be collected in 

FY  2012. The accounts receivable reported in FY 2010 represent erroneous charges made by other agencies 

against USTDA’s appropriation. The correction was made in FY 2011.

U.S. TRADE AND DEVELOPMENT AGENCY

Notes to Financial Statements

September 30, 2011 and 2010
30 U.S. TRADE AND DEVELOPMENT AGENCY

U.S. TRADE AND DEVELOPMENT AGENCY

Notes to Financial Statements

September 30, 2011 and 2010

(4) Property and Equipment, Net

Property and equipment and related accumulated depreciation balances at September 30, 2011, and 2010 are 

as follows:

FY 2011

Class of Asset Service Life

Acquisition

value

Accumulated 

depreciation/ 

amortization

Net 

book value

Computer Equipment 5 years $ 471,823 $ 287,009 $ 184,814

Furniture and Fixtures 10 years 232,468 163,873 68,595

Computer Software 5 years 5,046 1,514 3,532

Other Equipment 10 years 243,668 159,981 83,687

Leasehold Improvement 2 years 113,182 76,011 37,171

Total property and equipment $ 1,066,187 $ 688,388 $ 377,799

FY 2010

Class of Asset Service Life

Acquisition

value

Accumulated 

depreciation/ 

amortization

Net 

book value

Computer Equipment 5 years $ 453,200 $ 211,136 $ 242,064

Furniture and Fixtures 10 years 232,468 146,699 85,769

Computer Software 5 years 5,046 505 4,541

Other Equipment 10 years 243,668 137,096 106,572

Leasehold Improvement 3 years 113,182 35,043 78,139

Total property and equipment $ 1,047,564 530,479 517,085

Depreciation expense for fiscal years ended September 30, 2011 and 2010 is $157,909 and $129,218, respectively. 

During FY 2011 and 2010, USTDA purchased property and equipment in the amount of $18,623 and $264,925, 

respectively. In addition, during FY 2011 there were no disposals, while in FY 2010, USTDA disposed of property 

that cost $59,470, with related accumulated depreciation amounting to $55,691.
2011 ANNUAL REPORT 31

(5) Liabilities

Total liabilities represent the sum of liabilities not covered by budgetary resources, and those covered by 

budgetary resources. As of September 30, 2011 and 2010, total liabilities were as follows:

FY 2011 FY 2010

Intragovernmental Liabilities:

Liabilities not covered by budgetary resources:

 Miscellaneous receipts to be returned to Treasury $ 11,674 $ 28,126

Liabilities covered by budgetary resources:

 Accounts payable 270,000 74,007

 Total intragovernmental liabilities $ 281,674 $ 102,133

Other Liabilities:

Liabilities not covered by budgetary resources:

 Accrued annual leave $ 491,723 $ 473,318

Liabilities covered by budgetary resources:

 Accounts payable 6,895,481 8,087,922

 Accrued payroll 244,417 457,549

 Total other liabilities $ 7,631,621 $ 9,018,789

 Total Liabilities $ 7,913,295 $ 9,120,922

All liabilities other than unfunded accrued leave are considered to be current liabilities. Approximately $6.2 million 

of the accounts payable balance as of September 30, 2011 relates to grants payments owed but unpaid. This 

balance was $7.8 million as of September 30, 2010.

(6) Intragovernmental Costs and Exchange Revenue

Program costs for fiscal years ended September 30, 2011 and 2010 consist of the following:

Grants Program FY 2010 FY 2010 

Intragovernmental costs $ 2,953,748 $ 3,701,368

Public costs 50,170,240 52,763,824

 Total grant program costs 53,123,988 56,465,192

Intragovernmental earned revenue — —

 Net grant program costs $ 53,123,988 $ 56,465,192

U.S. TRADE AND DEVELOPMENT AGENCY

Notes to Financial Statements

September 30, 2011 and 2010
32 U.S. TRADE AND DEVELOPMENT AGENCY

U.S. TRADE AND DEVELOPMENT AGENCY

Notes to Financial Statements

September 30, 2011 and 2010

(7) Apportionment Categories of Obligations Incurred

During the years ended September 30, 2011 and 2010, funds were obligated in the following categories:

Obligations FY 2011 FY 2010 

Category A – funds that are obligated for operating expenses $ 13,548,511 $ 14,292,885 

Category B – funds that are obligated for program activities 41,072,081 49,837,685

 Total obligations incurred $ 54,620,592 $ 64,130,570

8) Unobligated Balances Available — Apportioned

Total available unobligated balance of budget authority at September 30, 2011 and 2010 consist of 

the following.

FY 2011 FY 2010 

Unrestricted no-year funds $ 325,959 $ 325,959 

Funds transferred from USAID for feasibility studies and 

related activities in the New Independent States (NIS), 

and Support for Eastern European Democracy (SEED) 61,565 304,498 

Funds transferred from USAID for feasibility studies and 

related activities in the NIS (Freedom Support Act (FSA) 

no-year funds) 63,315 150,841

 Total no-year funds $ 450,839 $ 781,298 

Funds transferred from USAID for feasibility studies and 

related activities in the NIS (FSA funds) 318,930 —

USTDA core budget two-year appropriations 3,085,228 2,108,310

 Total unobligated and available appropriations $ 3,854,997 $ 2,889,608 

All funds transferred from USAID were appropriation transfers. USTDA did not receive any allocations during 

FY 2010. 

(9) Undelivered Orders

At September 30, 2011 and 2010, undelivered orders balances consisted of the following:

Purpose FY 2011 FY 2010 

Obligated balance at the end of the period $ 99,425,899 $ 106,533,590

Accounts payable (covered by budgetary resources) (7,409,898) (8,619,478)

 Undelivered orders $ 92,016,001 $ 97,914,112
2011 ANNUAL REPORT 33

U.S. TRADE AND DEVELOPMENT AGENCY

Notes to Financial Statements

September 30, 2011 and 2010

(10) Permanent Indefinite Appropriations

No-year funds at September 30, 2011 and 2010 exist for the following purposes:

Purpose FY 2011 FY 2010

General program activities $ 325,959 $ 325,959

Freedom Support Act (FSA) transfer funds for feasibility 

studies and activities in the NIS 63,315 150,841

Support for feasibility studies and activities (NIS and SEED) 61,565 304,498

 Total permanent indefinite appropriations $ 450,839 $ 781,298

(11) Reconciliation of Net Cost to Budget

The following schedule reconciles resources available to USTDA to finance operations and the net cost of 

operating for fiscal years ended September 30, 2011 and 2010:

FY 2011 FY 2010

Resources used to finance activities:

Budgetary resources obligated $ 54,620,592 $ 64,130,570

Adjustment to beginning balance brought forward 10,261 (10,261)

Recoveries of prior years obligations (8,018,027) (5,001,677)

Imputed financing for costs absorbed by others 401,598 391,660

Other — 117,195

 Total resources used to finance activities $ 47,014,424 $ 59,627,487

Resources used to finance items not part of the 

net cost of operations:

Change in budgetary resources obligated for goods and 

services ordered, but not received $ 5,925,036 $ (2,981,279)

 Resources that finance the acquisition of assets (18,623) (264,925)

Loss on disposition of assets — 3,779

Total resources used to finance items 

not part of the net cost of operations $ 5,906,413 $ (3,242,425)

Costs that do not require resources:

Depreciation and amortization $ 157,909 $ 129,218

Decrease in accounts receivable 26,837 —

Bad debt expenses — (72,060)

Costs that require resources in a future period:

Increase in accrued leave liability 18,405 22,972

 Total costs that do not require resources $ 203,151 $ 80,130

 Net cost of operations $ 53,123,988 $ 56,465,192
34 U.S. TRADE AND DEVELOPMENT AGENCY

Intragovernmental Assets

Trading Partner Partner # Accounts Payable

Fund Balance with 

Treasury

Department of the Treasury 20 $ — $ 107,439,008

Total $ — $ 107,439,008

Intragovernmental Liabilities

Trading Partner Partner # Accounts Payable

Fund to be 

Returned to 

Treasury

National Archives and Records 88 $ 96 $ —

Office of Personnel Management 24 1,800 —

Department of State 19 132,837 —

Department of the Treasury 20 — 11,674

U.S. Foreign Commercial Services 13 94,295 —

General Services Administration 47 40,972 —

Total $ 270,000 $ 11,674

Intragovernmental Expenses 

Trading Partner Partner # Amount

Department of Agriculture—CEPO 12 $ (3,000)

Foreign Service Institute 21 735

Department of the Interior (NBC) 14 1,008,626

Department of State 19 403,584

U.S. Foreign Commercial Services 13 63,985

General Services Administration 47 1,446,495

Department of Homeland Security 70 21,167

Office of Personnel Management 24 6,014

National Archives and Records 88 1,150

U.S. Postal Service 18 4,992

Total $ 2,953,748

U.S. TRADE AND DEVELOPMENT AGENCY

Other Accompanying Information

Intragovernmental Assets, Liabilities and Expenses

September 30, 2011
2011 ANNUAL REPORT 35

Independent Auditors’ Report on Internal Control Over Financial Reporting

The Director

U.S. Trade and Development Agency:

We have audited the balance sheets of the U.S. Trade and Development Agency (USTDA) as of September 30, 

2011 and 2010 and the related statements of net cost, changes in net position, and budgetary resources (hereinafter referred to as “financial statements”) for the years then ended, and have issued our report thereon dated 

November 9, 2011.

We conducted our audits in accordance with auditing standards generally accepted in the United States of America; 

the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller 

General of the United States; and Office of Management and Budget (OMB) Bulletin No. 07-04, Audit Requirements 

for Federal Financial Statements, as amended. Those standards and OMB Bulletin No. 07-04 require that we plan 

and perform the audits to obtain reasonable assurance about whether the financial statements are free of material 

misstatement.

The management of the USTDA is responsible for establishing and maintaining effective internal control. In planning 

and performing our fiscal year 2011 audit, we considered the USTDA’s internal control over financial reporting by 

obtaining an understanding of the USTDA’s internal control, determining whether internal controls had been placed 

in operation, assessing control risk, and performing tests of controls as a basis for designing our auditing procedures 

for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the USTDA’s internal control over financial reporting. Accordingly, we do not express 

an opinion on the effectiveness of the USTDA’s internal control over financial reporting. We did not test all internal 

controls relevant to operating objectives as broadly defined by the Federal Managers’ Financial Integrity Act of 1982.

A deficiency in internal control exists when the design or operation of a control does not allow management or 

employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control 

such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not 

be prevented, or detected and corrected on a timely basis.

Our consideration of internal control over financial reporting was for the limited purpose described in the third 

paragraph of this report and was not designed to identify all deficiencies in internal control over financial reporting 

that might be deficiencies, significant deficiencies, or material weaknesses. In our fiscal year 2011 audit, we did not 

identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses, as 

defined above.

This report is intended solely for the information and use of the USTDA’s management, OMB, the U.S. Government 

Accountability Office, and the U.S. Congress and is not intended to be and should not be used by anyone other than 

these specified parties.

November 9, 2011 

KMPG LLP

2001 M Street, NW

Washington, DC 20036
36 U.S. TRADE AND DEVELOPMENT AGENCY

USTDA Annual Report 2011

Design: Studio B

Staff Photo: Robert A. McComas Photography

Printing: Printing Images

Printed on recycled paper

Independent Auditors’ Report on Compliance and Other Matters

The Director

U.S. Trade and Development Agency:

We have audited the balance sheets of the U.S. Trade and Development (USTDA) as of September 30, 2011 and 

2010, and the related statements of net cost, changes in net position, and combined statements of budgetary 

resources (hereinafter referred to as “financial statements”) for the years then ended, and have issued our report 

thereon dated November 9, 2011.

We conducted our audits in accordance with auditing standards generally accepted in the United States of America; 

the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller 

General of the United States; and Office of Management and Budget (OMB) Bulletin No. 07-04, Audit Requirements 

for Federal Financial Statements, as amended. Those standards and OMB Bulletin No. 07-04 require that we plan 

and perform the audit to obtain reasonable assurance about whether the financial statements are free of material 

misstatement.

The management of the USTDA is responsible for complying with laws, regulations, contracts, and grant agreements 

applicable to the USTDA. As part of obtaining reasonable assurance about whether the USTDA’s financial statements 

are free of material misstatement, we performed tests of the USTDA’s compliance with certain provisions of laws, 

regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on 

the determination of the financial statement amounts, and certain provisions of other laws and regulations specified in OMB Bulletin No. 07-04. We limited our tests of compliance to the provisions described in the preceding 

sentence, and we did not test compliance with all laws, regulations, contracts, and grant agreements applicable to 

the USTDA. However, providing an opinion on compliance with those provisions was not an objective of our audit, 

and accordingly, we do not express such an opinion.

The results of our tests of compliance described in the preceding paragraph of this report, disclosed no instances 

of noncompliance or other matters that are required to be reported herein under Government Auditing Standards or 

OMB Bulletin No. 07-04.

This report is intended solely for the information and use of the USTDA’s management, OMB, the U.S. Government 

Accountability Office, and the U.S. Congress and is not intended to be and should not be used by anyone other than 

these specified parties.

November 9, 2011 

KMPG LLP

2001 M Street, NW

Washington, DC 20036

U.S. Trade and Development Agency

1000 Wilson Boulevard, Suite 1600 • Arlington, Virginia 22209-3901

Phone: (703) 875-4357 • Fax: (703) 875-4009 • Website: www.ustda.gov • E-mail: info@ustda.gov