DEPARTMENT OF THE TREASURY

INTERNATIONAL AFFAIRS TECHNICAL ASSISTANCE

2022 REPORT TO CONGRESS

Section 129 of the Foreign Assistance Act of 1961, as amended, authorizes the 

establishment of a Department of the Treasury program to provide technical assistance to 

governments and central banks of developing or transitional countries. This legislation 

also requires Treasury to prepare and submit this report on the conduct of the Treasury 

International Affairs Technical Assistance (TIATA) program by Treasury’s Office of 

Technical Assistance (OTA).
TABLE OF CONTENTS

I. Introduction and Executive Summary 1

A. Project Highlights 2

B. Alignment with Administration Priorities 2

C. Monitoring and Evaluation 4

II. Program Organization and Principles 4

III. Project Allocation, Funding, and Management 5

IV. Project Selection and Assistance Delivery 8

V. Program Evaluation and Monitoring 10

VI. Illustrative Achievements 11

VII. Special Focus: Ukraine 15

Annex 1: U.S. Treasury Strategic Plan 2022-2026 (excerpted) 18

Annex 2: OTA Strategic Plan 2018-2022 20

Table A: 2022 TIATA Budget Execution Plan 22

Table B: 2022 Non-TIATA Sources of Funding 26
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I. Introduction and Executive Summary

This report provides an overview of the activities of the Treasury Department’s Office of 

Technical Assistance (OTA) for calendar year 2022. The report covers program 

organization, funding, and the process for selecting and implementing projects, describes 

changes in the program’s global footprint, and summarizes project-specific highlights.

As discussed further below, in 2022 OTA:

• Executed 74 bilateral technical assistance projects in 42 countries to help 

counterparts in Africa, Latin America, Asia, and Europe achieve improvements –

in some cases significant improvements – in public financial management and 

financial sector oversight. 

• Delivered technical assistance in support of Administration priorities, including 

climate/energy, financial inclusion, and anti-corruption.

• Completed the first independent (third-party) evaluation of an OTA project under 

the program’s initiative to strengthen project monitoring and evaluation in 

compliance with the Foreign Aid Transparency and Accountability Act (FATAA).

For over 30 years, OTA has helped finance ministries and central banks of developing 

and transitional countries strengthen their ability to manage public finances effectively 

and safeguard their financial sectors. Such assistance is in the U.S. national interest. 

Strong economic governance regimes support financial sector stability, growth, and the 

achievement of broader U.S. foreign policy and national security goals. Developing 

countries that generate more domestic revenue and manage their resources effectively are 

less dependent on foreign aid and manage their aid more effectively. Additionally, 

governments that develop effective financial sector oversight regimes are valuable 

partners in the global effort to combat money laundering and terrorist financing. 

OTA’s approach to providing technical assistance is distinguished by a number of 

characteristics, including an emphasis on supporting self-reliance by providing countries 

with the knowledge and skills required to move towards financial self-sufficiency. The 

program is selective and emphasizes country ownership, working with governments that 

are committed to reform – reform that they design and own – and to using U.S. assistance 

effectively. OTA also emphasizes sustained and close interaction between its expert 

advisors and working-level foreign partners, whether in a finance ministry, central bank, 

financial intelligence unit, tax administration, or other relevant government agency. OTA 

advisors work side-by-side with counterparts, typically for a period of three to five years, 

to introduce sound practices in daily work routines through ongoing mentoring and onthe-job training.

OTA’s work supports Treasury’s strategic goal of promoting equitable economic growth 

and recovery. As described in Treasury’s Strategic Plan for 2022-2026 (see Annex 1), 

OTA delivers technical assistance to finance ministries and central banks in developing 

and transitional countries as part of Treasury’s efforts to “support sustainable economic 

development, address debt vulnerabilities, and reduce inequality globally in key countries 

and regions.” OTA’s work also has important connections to Treasury’s strategic goals 
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related to national security, financial stability, and combatting climate change. This work 

entails focusing on OTA’s five core program disciplines: revenue policy/administration; 

budget and financial accountability; government debt issuance and infrastructure finance; 

banking and financial services; and economic crimes. OTA also has several high-priority 

cross-cutting objectives such as domestic resource mobilization, infrastructure finance, 

expanding access to financial services, strengthening anti-money laundering/combatting 

financing of terrorism (AML/CFT) frameworks, and supporting growth.

Project Highlights

In 2022, several OTA partner countries made significant achievements with OTA 

assistance. For example, Angola launched a liability management program and executed

debt exchange transactions as part of its efforts to reduce risk and more efficiently 

manage its sovereign debt. OTA worked with India’s Ministry of Housing and Urban 

Affairs to promote local project debt issuance in support of infrastructure and 

development projects. This work resulted in the successful issuance of nearly $9 million 

in local bonds to finance a water treatment plant. In Costa Rica, government officials 

improved tax debt collection policies, procedural structures, enforcement measures, and 

public communication strategies, which resulted in increased collections and resolution 

of tax debt cases. Indonesia’s Ministry of Finance implemented several new key 

processes and tools to reach internationally accepted standards for cash management, a 

critical component of the government’s public financial management reform efforts. 

With OTA assistance, Latvian regulatory authorities adopted a more aggressive 

enforcement posture to counter non-compliance by troublesome banks and strengthened 

their ability to freeze assets owned or controlled by sanctioned individuals and entities in 

response to Russian aggression in Ukraine. Madagascar developed and implemented a 

national financial inclusion database, which includes reporting from more than 75% of 

financial sector actors serving low-income Malagasies.

Alignment with Administration Priorities

OTA’s work is closely aligned with Administration priorities. In addition to its 

traditional focus on public financial management and financial sector strengthening, over 

the last year, the program delivered assistance to partner countries in high priority areas, 

such as climate and energy, infrastructure finance, financial inclusion, and anticorruption.

Climate/Energy and Infrastructure Finance

There is increasing demand from countries for assistance to help support their climaterelated goals. In response, OTA provided assistance in the development and 

implementation of fiscally-sound approaches to financing climate-related or 

environmental projects, such as renewable energy and sustainable infrastructure projects, 

in five countries: India, Colombia, Ecuador, Kenya, and Panama. The Government of 

Indonesia modified regulations were modified to reflect discussions OTA held with the 

Bank of Indonesia and other officials regarding the importance of strengthening and 
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expanding foreign currency exchange markets to improve access to international capital 

needed for climate transition infrastructure and clean energy projects. In Madagascar,

OTA supported the promulgation of microinsurance products in the agricultural sector 

that help low-income clients cope with the heightened risks posed by climate change.

OTA also continued to provide technical assistance focused on strengthening the capacity 

of governments to structure and implement infrastructure projects to enhance economic 

growth. In 2022, OTA executed 11 infrastructure finance technical assistance projects in

Brazil (two projects), Colombia, Ecuador, India, Jamaica, Kenya, Panama, Philippines, 

Ukraine, and Vietnam.1

Financial Inclusion

OTA assisted partner countries to implement inclusive financial strategies to expand 

access to and enhance usage of financial services. OTA’s work centered on developing 

and strengthening legal and regulatory frameworks that support the development of 

innovative and quality financial products and services (e.g., secured transactions, fintech) 

and supervisory regimes that effectively oversee financial services, protect consumers, 

and promote financial sector safety and soundness. In 2022, OTA executed seven 

engagements with a financial inclusion focus (Costa Rica, Dominican Republic, 

Honduras, Liberia, Madagascar, Paraguay, and Sierra Leone). 

Anti-corruption

In support of the U.S. Strategy to Counter Corruption, an area of increased emphasis by 

the Biden administration, OTA’s work focused on strengthening transparency and 

accountability in public finance systems and combatting economic crimes. OTA 

collaborated closely with Treasury policy offices, including the Office of Terrorism and 

Financial Intelligence (TFI) and the Office of International Affairs (IA), and other U.S. 

agencies. As part of this effort, OTA helped foreign government counterparts to build 

more transparent and accountable budget, debt management, and tax administration 

systems and processes. In the areas of AML/CFT regime development and financial 

sector supervision, both of which are fundamental to governments’ anti-corruption 

efforts, in 2022 OTA executed 20 engagements across the following 18 countries: 

Angola, Belize, Botswana, Brazil, Dominican Republic, Ecuador, Estonia, Honduras, 

Latvia, Liberia, Madagascar, Maldives, Mongolia, Philippines, Seychelles, Sierra Leone, 

Tajikistan, and Zambia.

OTA also executed several projects focused on strengthening public financial 

management systems and process to enable better prevention and detection of 

corruption. In the revenue area, OTA engaged with the national tax authorities in Costa 

Rica, Dominican Republic, Ecuador, Guyana, Cameroon, and Moldova to build their 

Inspector General functions and anti-corruption regimes. In the budget area, the program 

worked with the Ministries of Finance in Madagascar, Indonesia, and Honduras to 

1 OTA also provided infrastructure finance technical assistance to the Government of Argentina in early2022, however the engagement ended due to a lack of traction with Argentinian counterparts.
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improve internal control processes aimed at enhancing the integrity of the government’s 

payment processes. OTA also continues to strengthen procurement practices for 

infrastructure projects in partner countries to reduce the potential for corruption. OTA’s 

efforts in countries such as Colombia, Ecuador, Peru, and Ukraine focused on reducing 

the use of private unsolicited proposals for large infrastructure projects, thereby 

increasing open competition and transparency in procurement and reducing opportunities 

for bribery and corruption, as well as the perception of corruption.

Monitoring and Evaluation

In 2022, OTA continued to strengthen its ability to measure the results of its technical

assistance projects in accordance with the Foreign Aid Transparency and Accountability 

Act (FATAA). OTA utilizes a standard Logical Framework (LogFrame) to document

and track the progress of project-specific goals, expected outcomes, activities, and 

outputs. In 2022, OTA expanded project monitoring capabilities by developing projectlevel dashboards to enable project managers and senior management to make data-driven 

decisions about project performance, including investing additional resources into 

projects with high traction, and making timely interventions into stalled or faltering 

projects.

OTA – working with a private firm it contracted to perform third-party evaluations of 

technical assistance engagements – designed an approach to evaluating technical 

assistance projects to determine the extent to which project objectives are achieved and 

the associated outcomes have led to sustainable improvements in public financial 

management or financial sector strengthening. OTA’s contractor utilized this evaluation 

design to complete an evaluation of two long-term technical assistance projects in 

Kosovo. OTA initiated evaluations of projects in Paraguay, Jamaica, and Rwanda. 

These evaluations are expected to be completed in 2023.

II. Program Organization and Principles

OTA is organized along functional lines, operating in five major disciplines to assist the 

governments of developing and transitional countries:

• Revenue Policy and Administration: Creates more effective tax administrations 

that simplify procedures to encourage voluntary compliance on the part of taxpayers, 

effectively uncover tax evasion, and maintain high standards of fairness and 

transparency.

• Budget and Financial Accountability: Strengthens all phases of the governmental 

budget cycle, including budget formulation, execution, monitoring and reporting, 

treasury operations, and evaluation.

• Government Debt and Infrastructure Finance: Provides strategic and technical 

assistance to develop market-based means of public finance through the issuance of 

domestic government securities; increases the efficiency of government debt 

management; implements comprehensive debt strategies that diversify sources of 

finance, reduce liability risk and lower debt service burdens; strengthens enabling 
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environments for private investment; and accelerates the development of financially 

sound infrastructure projects.

• Banking and Financial Services: Supports the development of strong financial 

sectors in which institutions are well-regulated, stable, and accessible, serve as 

efficient intermediaries between savers and investors, and are resistant to criminal 

activity.

• Economic Crimes: Assists the development and implementation of AML/CFT 

regimes that are compliant with international standards. 

OTA often draws from two or more of these disciplines in order to address most 

effectively cross-cutting development issues and challenges, such as combatting 

corruption and increasing transparency and accountability.

In providing technical assistance, OTA follows a number of guiding principles:

• Self-reliance. OTA provides countries with the knowledge and skills required to 

move towards financial self-sufficiency—including the capability to generate and 

better manage their own government finances—and to reduce dependence on 

international aid. OTA generally follows a three- to five-year project cycle that is 

aimed at creating maximum impact and exiting when local capacity has been created. 

• Selectivity and country ownership. OTA works with governments that are 

committed to reform—reform that they design and own—and to using U.S. assistance 

effectively. OTA is recognized for supporting country ownership; achieving 

alignment with host country priorities; managing for development results; and 

fostering mutual accountability with host country officials. OTA does not engage 

with a country without a signed bilateral Terms of Reference that sets out the highlevel terms and aims of the engagement, followed by a tactical-level work plan 

specifying activities in support of those aims.

• Embedded and working side-by-side with counterparts. OTA engagements are 

based on close interaction between advisors and working-level partners with advisors 

typically embedded in a finance ministry, central bank, financial intelligence unit, tax 

administration, or other relevant government agency. OTA advisors introduce sound 

practices in daily work routines through ongoing mentoring and on-the-job training.

III. Project Allocation, Funding, and Management

Project Allocation

As of the end of 2022, OTA had 74 bilateral technical assistance projects in 42 countries. 

Thirty-nine percent of OTA’s total projects in 2022 were in the Americas, 31 percent 

were in Sub-Saharan Africa, 19 percent were in Asia, and 11 percent were in Europe and 

Eurasia. These projects were executed across the program’s five disciplines, with half of 

OTA projects delivered in the areas of Banking and Financial Services (26 percent) and 

Government Debt and Infrastructure Finance (24 percent), and the remainder focused on 

Budget and Financial Accountability (19 percent), Revenue Policy and Administration 

(16 percent), and Economic Crimes (15 percent) (see charts below). The total number of 
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projects and their regional and subject area distribution are consistent with OTA’s 

footprint in recent years.

OTA strives for depth of engagement and an integrated, multi-disciplinary approach. 

This approach recognizes the complex, systemic nature of public financial management 

and the importance of engaging with a counterpart government in various disciplines in a 

coordinated way to achieve the greatest possible impact. In 2022, out of OTA’s 42

country engagements, 18 involved experts from two or more disciplines. 

Chart 1 - OTA Projects by Region 2022

Chart 2 - OTA Projects by Discipline 2022

Note: Details may not add to totals due to rounding

Program Funding

In FY 2022, Congress appropriated $38 million in Treasury International Affairs 

Technical Assistance (TIATA) resources, a welcome increase of $5 million over the FY 
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2021 level. This funding was allocated to support a total of 74 bilateral assistance 

projects and 13 subject matter-specific senior advisors (who work regionally and 

globally) with a combined budget of $54.2 million. TIATA is a “no-year” appropriation, 

which allows OTA to fund projects through a combination of new and carryover funds.

As the chart below indicates, TIATA is the single largest resource available to OTA for 

pursuing its mission and is the most reliable, efficient, and effective source of funding for 

Treasury technical assistance. The level of appropriated funding helped maintain 

program continuity and enabled OTA to initiate engagements in priority assistance areas,

including AML-CFT regime development, anti-corruption, climate/energy, and

increasing access to finance.

Historically, OTA has received funding from other agencies, such as the U.S. Department 

of State and the United States Agency for International Development (USAID). As 

shown in the chart below, between FY 2018 and FY 2022 the program received $49.2

million in such transfers. OTA will continue to monitor closely the level of funding it 

receives – both TIATA and transfers from other agencies – in an effort to sustain the 

current level of technical assistance OTA delivers globally and to respond to new and 

emerging priorities.

Chart 3 - OTA Funding by Source FY 2018-FY 2022

Notes: 

1. Details may not add to totals due to rounding.

2. OTA expected to receive transfer funding in FY21 from the Department of State for projects in Eastern 

Europe and Central Asia. However, the transfer was delayed and the funds were received by OTA in FY22.
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Table A at the end of this report provide additional data regarding the allocation of OTA 

funding in 2022.

Program Management

Program management is the set of management and administrative activities and related 

costs that OTA requires to effectively develop, deliver, and oversee technical assistance 

to partner countries globally. These costs, which totaled approximately $11.3 million in 

2022, are largely associated with OTA’s headquarters management and administrative 

functions, include compensation for program office management and staff; headquarters 

office facility and maintenance, utilities, and other services (e.g., computer, telephone 

and internet, supplies); procurement and financial management services; and office and 

information systems security. These program management expenses are funded by 

twenty-five percent (25%) of all funds the program receives, whether via direct 

appropriation (TIATA) or inter-agency transfer.2

IV. Project Selection and Assistance Delivery

Two of the most frequently asked questions about OTA’s work are: “How are projects 

selected?” and “How is assistance delivered?” Project selection is a process that typically 

begins with a request to Treasury for technical assistance as outlined below and is 

informed by a careful assessment of a project’s potential for impact and success. 

Assistance is delivered via a resident advisor or intermittent advisor-based project model, 

or a combination of both. Project documentation, in particular the agreed Terms of 

Reference and progress reports, is a vital part of the assistance architecture. 

Receiving and Assessing Requests. Requests for technical assistance and information 

regarding potential projects come from many sources, including U.S. embassies, USAID 

missions, other Treasury offices, foreign governments, and international organizations 

such as the IMF, as well as from OTA advisors already on the ground implementing other 

projects. 

For requests that OTA determines to be within its mandate, an on-the-ground assessment 

is carried out by OTA subject matter experts. The OTA subject matter expert shares the 

assessment’s conclusions with the partner government and the U.S. embassy in the host 

country. OTA looks to its host-country counterparts to define project goals from the 

outset. Experience shows that goals and objectives that are not “owned” by the 

counterpart are seldom achieved. 

If the on-the-ground assessment is favorable, the manager of one of OTA’s five core 

disciplines submits a project proposal based on the assessment to the OTA Director and 

Deputy Assistant Secretary (DAS) for Technical Assistance Policy. Decisions about 

whether to begin new projects, or to continue or terminate existing projects, are based on 

criteria and considerations that include: the need for technical assistance; evidence of 

2 The FY 2022 appropriations act provided $9.5 million, or 25%, of the $38 million total TIATA 

appropriation, to support OTA administrative expenses. 
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counterpart commitment to reform and good use of assistance; whether the project would 

complement other projects in a particular country or region; the relation of the project to 

Treasury’s policy priorities and broader U.S. Government goals; and the availability of 

funding. In the course of assessing the prospects for a given project, OTA consults with 

other Treasury offices, and other partners and stakeholders such as the U.S. Department 

of State and USAID (in the field, at the embassy level, and at the headquarters level in 

Washington), the IMF, and the World Bank. 

Assistance Delivery Models. OTA carries out technical assistance through two basic 

delivery models: a resident advisor-based project and an intermittent advisor-based 

project. A resident advisor-based project is anchored by an expert advisor living in the 

counterpart country, typically for three to five years, and working side-by-side with 

officials in the ministry of finance, central bank, tax administration authority or other 

government institution. Treasury has found that working directly with the counterpart 

over a sustained period of time is critical for transferring knowledge and strengthening 

systems, especially in countries where government capacity is very limited. In addition 

to a resident advisor, a resident project frequently includes the participation of 

intermittent OTA experts in specialized areas who make short-term visits. 

For an intermittent advisor-based project, a group of several advisors typically spends a 

total of 30 to 45 weeks per year over the course of several years, in periods of two to 

three weeks at a time, working with host-country counterparts. In between these multiweek direct engagements, the counterparts are expected to carry out planned activities 

that are directed toward the objectives stated in a mutually-agreed-upon work plan. 

Between trips, advisors and counterparts are in frequent contact by email and phone. 

OTA often hires a permanent, full-time program assistant in-country to support the 

intermittent project.

Whether OTA selects a resident or intermittent advisor-based project model depends on 

the extent and nature of the problems to be solved, and the most practical solutions to 

those problems. Typically, one resident advisor will be utilized to cover a single large 

subject area, such as program budgeting or debt management, that will require several 

years to complete. Alternatively, an intermittent advisor-based project will use several 

advisors to cover a multitude of specialized assistance topics, such as audits, arrears 

collection and strategic planning in tax administration, or financial intelligence unit 

development, techniques of financial analysis, investigation and prosecution, or asset 

management, seizure, and forfeiture. 

Project Documents. Once OTA selects a resident or intermittent advisor project for 

funding, Terms of Reference (TOR) are developed with the counterpart agency and 

signed by a policy-level official from the counterpart government and Treasury’s DAS 

for Technical Assistance Policy. The TOR describes the broad goals of the project and 

represents a bilateral understanding at the policy level between OTA and the host 

institution. Within a short period (normally six to eight weeks) after signing the TOR, a 

detailed work plan is agreed upon between the advisor assigned to the project and the 

working-level counterpart. This workplan, which is approved by the Associate Director 
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for the relevant OTA team, specifies objectives, planned completion dates, and 

deliverables, and is the primary basis for regular monthly progress reports to Treasury 

headquarters. 

The monthly reports are shared with counterpart institutions, U.S. embassy staff, other 

bureaus and offices in Treasury, and other interested partners such as USAID, the 

Millennium Challenge Corporation, and the relevant International Financial Institutions. 

OTA uses the reports as a management tool to oversee the progress of the project and to 

make any necessary changes. The reports also form the information base for responses to 

project queries from U.S. Government officials. In addition, supervising officials 

conduct field visits to meet counterparts and advisors and review the project’s progress. 

Such visits and reviews are conducted, generally, on an annual basis. 

V. Program Evaluation and Monitoring

One of the most important managerial functions in any assistance program is to monitor 

and evaluate the effectiveness of individual projects and the program overall. OTA 

monitors project performance using a variety of methods, including written monthly 

reports prepared by advisors that describe progress on work plan objectives, on-site 

evaluations by OTA managers, and end-of-project reports which provide a final 

assessment of project outcomes. An OTA expert other than the project implementer 

undertakes end-of-project reports, which are conducted typically within three to six 

months following the end of the project. The purpose of these reports is to better 

understand the program’s longer-term impact. OTA completed 12 end-of-project reports 

in 2022.

In addition, OTA regularly assesses the level of “traction” of each project being 

implemented using a 5-point scale with 5 representing the highest possible traction. 

Traction levels are assigned based on the degree to which partner governments are 

actively engaged in working with OTA advisors to achieve technical assistance 

objectives. Markers of traction may include the number of foreign officials who are 

taking an active role in pursuing change, or interim deliverables that are on time or ahead 

of schedule. The levels of traction are assessed three times per year by OTA advisors and 

headquarters staff at the project level and consider traction across all the technical areas 

of the project being implemented.

For 2022, OTA achieved an overall program traction score of 3.5, reflecting a return to a 

level of traction more in line with the program’s historical experience (overall program 

traction had dipped to 3.3 in 2020 reflecting the constraints of providing assistance during 

the pandemic, after averaging 3.8 in the preceding five years).
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In accordance with the Foreign Aid Transparency and Accountability Act (FATAA), 

OTA continues to strengthen its ability to measure the results of its technical assistance 

projects. In 2022, OTA continued its work to develop and refine project-specific Logical 

Frameworks (LogFrames) and to document progress against project goals and expected 

outcomes, as well as the activities and outputs expected to lead to their successful 

realization. Additionally in 2022, OTA expanded on its approach to project monitoring 

by creating project-specific data dashboards to provide project managers and OTA senior 

leadership at-a-glance illustrations of project progress and traction.

Importantly, in 2022 OTA worked with its evaluation contractor to plan and execute a 

successful evaluation of two long-standing OTA projects in Kosovo. The report 

documented the extent to which the objectives of each of project were achieved and their 

expected sustainability.3 Additionally, OTA contracted for and planned three evaluations

to be undertaken in 2023, including for projects in Paraguay, Jamaica, and Rwanda. The 

results and lessons gained from evaluations will be integrated, as appropriate, into future 

technical assistance activities to continue to make OTA as effective as possible. The 

results will also be made available to the public as required by the FATAA.

VI. Illustrative Achievements

As described in the previous section, Treasury measures the results of technical 

assistance on a project-by-project basis, ranging from engagements that meet – or in 

some cases exceed – project objectives, to those that underperform, or result in little or no 

improvement. With respect to the latter, projects can fall short of expectations for a 

variety of reasons: limited absorption capacity by recipients, a change in host-country 

3 The evaluation is available to the public (see https://home.treasury.gov/about/offices/internationalaffairs/technical-assistance/technical-assistance-project-evaluations) as required by the Foreign Aid 

Transparency and Accountability Act.

OTA Traction Assessment Rating Scale

Traction

5 – Advisors have regular and frequent meetings with counterparts. Counterparts display high 

levels of involvement. There is an excellent professional relationship between the advisor and 

the counterpart. Schedules are kept. Counterparts take the initiative to advance the project work. 

There is a great deal of energy and activity devoted to this objective. 

3 – While there is interaction and involvement in working on this objective, more focus and 

activity would be desirable and is probably possible. For good and valid reasons, the specific 

project objective does not have a high priority for the counterparts at the present time, but some 

important and worthwhile efforts are being made. The project is doing well but could do better 

on this objective.

1 – There is little if any involvement or activity generated around this objective. It may be that 

the objective has been delayed, suspended, or otherwise given low priority. Though this may 

change in the future, for the time period covered by this assessment this objective is dormant.
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leadership, difficulty in establishing a good working relationship between the advisor and 

his/her counterpart, a lack of commitment to reform, or reform fatigue. In such cases,

OTA can suspend or terminate projects, thus ensuring that resources are put to the best 

possible use with committed partners.

OTA management conducts quarterly reviews of project progress. For projects with less 

than satisfactory progress, OTA may curtail or end the projects earlier than expected. On 

average, OTA curtails or ends early 4-5 projects, roughly 5% of TIATA-funded projects, 

per year. This has been the case since at least 2017 when OTA began collecting data on 

this on an annual basis. In 2022, six TIATA-funded bilateral assistance projects that the 

program had approved were ultimately curtailed or ended early due to poor performance.

By contrast, OTA projects are successful when the foreign counterparts—at both the 

technical and policy level—are committed to reform and to using Treasury technical 

assistance well. In 2022, a number of OTA partner countries demonstrated such 

commitment and made significant achievements with OTA assistance. Notable 

accomplishments include the following: 

Budget and Financial Accountability

Botswana Strengthens Medium-Term Budget Planning. In 2022, the Government of 

Botswana continued with a comprehensive reform program to strengthen public financial 

management and fiscal transparency. A key element of the reform is to implement 

budget options (e.g., initiatives that can create costs savings and/or increased revenues) 

early in the budget process to both strengthen medium-term budget planning and promote 

the allocation of resources to priority services. Working with OTA, Botswana’s Ministry 

of Finance and Economic Development (MFED) and other government agencies 

identified, developed, and reviewed budget options related to service efficiencies, cost 

containment measures, and non-tax revenue generating proposals (e.g., new fees and 

revising outdated fee schedules). In the first year of implementation, government 

agencies identified $26 million in cost-saving measures and non-tax revenue proposals.

Indonesia Strengthens Cash Management. The Ministry of Finance of Indonesia’s 

General Directorate of Treasury (DGT) implemented several new key processes and tools 

to reach internationally accepted standards for cash management, which is a critical 

component of the government’s public financial management reform efforts. With OTA 

assistance, the DGT developed new cash forecasting models and a new methodology for 

calculating the level of cash reserve to manage cash allocations during the fiscal year. 

The DGT also strengthened payment systems by developing and implementing strategies 

for enhancing digitalization of payment documentation, scheduling payments, improving 

accuracy of social program payments, and improving year end payment closing systems. 

OTA also supported the creation of new tools to invest surplus cash including the use of 

reverse repurchase agreements. Together, these reforms will enable the DGT to better 

manage and anticipate government cash requirements, decrease cash flow volatility, and 

reduce the required size of the cash liquidity reserve balance.
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Revenue Administration and Policy

Moldova Strengthens Tax Administration in Preparation for European Union

Accession Negotiations. Moldova’s State Tax Service (STS) embarked on a

comprehensive reform program to strengthen revenue collection in support of Moldova’s

accession into the European Union (EU). With OTA assistance, the STS updated its tax

code on transfer pricing and general anti-avoidance rules, and developed draft legislation

on criminal tax procedures, debt management, and insolvency codes to more closely align

laws with EU practices. OTA assistance focused on improving tax services to increase

efficiency, upgrade customer service, and reduce opportunities for corruption.

Costa Rica Overhauls Tax Debt Collection. With OTA assistance, Costa Rica’s 

Ministry of Finance (MoF) and General Directorate of Taxes (DGT) mapped and 

improved their tax debt collection policies, procedural structures, enforcement measures, 

and public communication strategies. Based on OTA’s guidance, the MoF and DGT 

enacted delinquent taxpayer installment agreements and partial payment agreements. In 

addition, an early intervention strategy has been implemented for collections officers to 

communicate with taxpayers immediately after an audit assessment. According to initial 

results, in 2022 the percentage of debtors paying in full rose by two percentage points to 

13%, and the percentage of cases resolved rose nine percentage points to 43%.

Government Debt and Infrastructure Finance

Angola Launches Liability Management Program. OTA assisted Angola’s Ministry 

of Finance (MoF) to establish a liability management program and execute debt exchange 

transactions as part of MoF’s effort to reduce risk and more efficiently manage its 

sovereign debt. OTA worked with the MoF Debt Management Office to analyze the 

domestic debt portfolio, identify vulnerabilities, and formulate a debt optimization 

strategy. Before launching the liability management operations, OTA advised 

counterparts in their communications with the market to ensure buy-in from current and 

potential debt holders. The successful transactions reduced foreign currency and maturity 

risk by exchanging USD linked index bonds for longer maturity (6, 8, 10 years) local 

currency benchmarks, which serve to improve liquidity in the domestic government bond 

market. These transactions promote capital market development by demonstrating the 

benefits of market-based instruments, pricing, and mechanisms. 

India Expands Municipal Financing Program. OTA’s support of India’s Ministry of 

Housing and Urban Affairs (MoHUA) initiative to promote local project debt issuance 

through the Smart Cities program reached another milestone in 2022. In March, the City 

of Vadodara, with OTA assistance, sold the equivalent of $8.7 million worth of 5-year 

local bonds for a water treatment plant at 7.15%, which was a positive result. OTA 

assistance to Vadodara focused on preparing the transaction (e.g., forming a deal team, 

reviewing bond structures and documents) and issuing the bonds, including by helping to 

identify regulatory and non-compliance issues and listing the bonds on the Bombay Stock 

Exchange. Vadodara is the second Indian city to raise its own project funds since the 

pioneering issuance by the municipality of Pune in 2017, which OTA also supported. 
14

Local debt issuance helps to foster greater ownership and improved planning of 

infrastructure and development projects. The collaboration between OTA and the 

MoHUA aims to incorporate best practices and lessons learned from the U.S. municipal 

finance system, enable better project vetting and monitoring, improve disclosure to 

investors, and lower the cost of funding for the regional capital improvement plan.

Banking and Financial Services

Sierra Leone Insures Depositors. In November 2022, the Government of Sierra Leone, 

with OTA support, passed a Deposit Protection Law that enables the establishment of a 

deposit insurance scheme for Sierra Leonean deposit holders. OTA assisted the Bank of 

Sierra Leone – Sierra Leone’s central bank – with the drafting of this law according to 

international best practice and will continue to support the BSL in operationalizing the 

deposit insurance scheme, by both establishing the actual deposit protection fund itself 

and the operational unit to oversee the fund. In a country where 12.4% of the adult 

population has a formal bank account, the establishment of a deposit protection fund will 

provide a significant safeguard to encourage unbanked citizens to put their savings into 

the formal financial sector. 

Madagascar Establishes Financial Inclusion Database. With OTA assistance, 

Madagascar’s National Committee for Financial Inclusion (CNFI), under the direction of 

the Ministry of Economy and Finance, developed and implemented a national financial 

inclusion database. Such a database will provide Government of Madagascar policy 

makers with key insights into their efforts regarding inclusive financial services – where 

there has been progress, where there is more work to be done. CNFI and OTA conducted 

socialization events with microfinance institutions and other key financial service 

providers in rural areas of Madagascar to introduce the new database and emphasize the 

importance of reporting into it. To date, over 75% of microfinance institution and other 

key financial sector actors serving low-income Malagasies are now reporting into this 

database.

Economic Crimes

Latvia Pursues Ambitious AML/CFT Reform. With OTA assistance, Latvian 

regulatory authorities adopted a more aggressive enforcement posture to counter 

continued non-compliance by troublesome banks. OTA assistance focused on improving 

data analytics and risk methodologies; developing activity-based inspection tools; and 

creating a more dissuasive penalty structure (e.g., elimination of settlement discount for 

banks not acting in good faith to remediate deficiencies). Due in large part to regulatory 

pressure stemming from newly implemented effective risk-based supervision practices –

and Latvia’s commitment to guard against malign influences – three non-compliant 

commercial banks were dissolved in 2022. Further, in response to Russian aggression in 

Ukraine, Latvian authorities froze 84 million EUR owned or controlled by sanctioned 

individuals and entities, and suspended Latvia’s lucrative “golden visa” investment 

program for Russian and Belarusian citizens. And, in August 2022, the Latvian 

government noted a significant increase in trade volumes transiting through Kazakhstan 
15

and alerted other countries to the suspected attempts to circumvent economic sanctions 

against Russia and Belarus. OTA provided background support to the Latvian authorities 

in these actions, including by assisting counterparts in overall coordination and resolving 

technical implementation issues.

Mongolia Strengthens Money Laundering and Terrorist Financing Risk 

Detection. Mongolia’s Financial Intelligence Unit (FIU), with mentoring and process 

support from OTA, implemented an updated AML/CFT risk-scoring matrix, resulting in 

a more comprehensive identification of risk in the financial intelligence it receives from 

banks and other obligated entities. OTA coached FIU counterparts on processes to 

identify and prioritize sources of AML/CFT risk and assisted with the development of the

risk-scoring matrix consistent with international standards and practices. This 

improvement has also benefited Mongolia’s overall AML/CFT regime, as Mongolian 

regulatory and law enforcement authorities in turn developed, or otherwise refined, their 

own risk rating processes to coincide with the FIU process. This across-the-regime risk 

scoring and prioritization process has enabled Mongolian authorities to target more 

significant AML/CFT targets for reporting, intelligence development, investigation, and 

prosecution. The FIU has also launched an automated Learning Management System 

(LMS) to better develop AML/CFT competency across the regime. 

VII. Special Focus: Ukraine

OTA has a long-standing partnership with the Government of Ukraine aimed at 

strengthening a range of public financial management and financial sector issues.4

 In 

2022, OTA adjusted its work with Ukrainian institutions – including the Ministry of 

Infrastructure, the Deposit Guarantee Fund, State Property Fund, and State Tax Service –

to reflect the emerging economic, financial, and security challenges resulting from 

Russia’s invasion of Ukraine at the beginning of the year. The program quickly added a 

new focus on continuity of key public financial management operations and preparations 

for a post-conflict environment (as well as traditional public financial management and 

financial sector strengthening) and required close coordination with other bi-lateral and 

multi-lateral assistance providers. Due to security considerations OTA was unable to 

meet with counterparts in Kyiv and instead delivered assistance to Ukrainian officials 

through working sessions held in neighboring countries (Hungary, Moldova, Poland).

Financial Sector Technical Assistance Donor Coordination

OTA participated in a donor coordination group chaired by the World Bank on financial 

sector issues in Ukraine. The group’s first meeting was held in Vienna, Austria in 

September 2022 and included the participation of a range of donors, including the World 

Bank, International Monetary Fund, European Bank for Reconstruction and 

Development, and U.S. Agency for International Development. Each donor reviewed 

their current efforts in Ukraine and discuss near-term assistance plans. OTA plans to 

4 OTA’s engagement with the Government of Ukraine is supported by funds transferred to the program 

from the U.S. Department of State (Bureau of European and Eurasian Affairs).
16

continue to participate in this group on an ongoing basis to avoid duplication of donor 

efforts and to help ensure that relevant assistance areas are being addressed.

Infrastructure Planning

Ukraine’s Ministry of Infrastructure is preparing for the massive task of rebuilding key 

infrastructure once Russian hostilities cease. As part of this effort, OTA is supporting the 

Ministry of Infrastructure’s planning to repair and replace damaged transportation 

infrastructure. This includes working side-by-side with counterparts to prioritize projects 

and develop specific project funding proposals for presentation to the donor community. 

OTA’s capacity building efforts include helping Ministry of Infrastructure counterparts to 

develop terms of reference for proposed donor assistance, and tools to monitor external 

technical consulting milestones and deliverables. Given the Ministry’s limited internal 

capability to coordinate and manage projects and funding, and the significant quantity of 

future projects, OTA will assist the Ministry to create an infrastructure project office 

staffed with professionals experienced in coordinating donor funding and project 

management. Also, at the request of the Ministry of Infrastructure, OTA provided 

analyses and recommendations regarding grain shipment infrastructure and logistics 

during the war, including analyzing challenges related to grain export logistics via 

Ukraine’s western border.

Financial Sector Strengthening 

OTA assisted the Deposit Guarantee Fund (DGF) of Ukraine to strengthen its legal 

framework, operation policies and procedures, and problem bank intervention and 

resolution strategies. Since the Russian invasion, OTA has continued its support through 

remote technical assistance as well as intermittent in-person working sessions with 

Ukrainian counterparts in Warsaw, Poland and Budapest, Hungary. These efforts have 

focused on supporting the DGF in responding to the economic disruption of banks caused 

by loss of collateral, overall economic decline, and other challenges. OTA is also 

assisting the DGF to develop a systemic crisis response strategy. OTA anticipates 

holding the next working session with the DGF in mid-2023. OTA is also assisting the 

State Property Fund (SPFU) of Ukraine with appraisal standards and adoption of 

International Valuation Standards. OTA had previously supported SPFU’s development 

of a strategy to privatize a large number of Ukrainian state-owned properties and 

enterprises. 

Revenue Administration Operational Continuity and Strengthening

OTA assisted the Ukrainian State Tax Service (STS) with a focus on continuity of 

operations and post-conflict operational readiness. STS leadership is working to reinvent 

the State Tax Service for a post-war environment, including modeling Ukraine’s tax 

administration regime after Western tax administration systems. OTA has provided STS 

counterparts with concept papers on fully resuming tax administration operations (postconflict), best practices in anti-corruption, and assistance in the areas of debt 

management, taxpayer services, international taxation, compliance risk management, and 
17

audit operations. OTA met with senior STS leadership in Poland in September 2022 to 

conduct post-conflict planning sessions. OTA met with STS counterparts in Moldova in 

December to discuss automating their factual audit program, and again in January 2023, 

to discuss debt management and collections. Looking ahead, OTA plans to meet with 

STS counterparts in February to plan for the resumption of audit compliance operations, 

and in March OTA will facilitate a joint session between Ukraine and Moldova 

international taxation units.
18

Annex 1: U.S. Treasury Strategic Plan 2022-2026 (excerpted)
19

Strategic Goal 1: Promote Equitable Economic Growth and Recovery; Objective 1.2: 

Global Economic Leadership; Strategy 1.2.B
20

Annex 2: OTA Strategic Plan 2018-2022

STRATEGIC PLAN 2018-2022

U.S. DEPARTMENT OF THE TREASURY

OFFICE OF TECHNICAL ASSISTANCE

Mission. The mission of the Treasury Department’s technical assistance program, 

managed by the Office of Technical Assistance (OTA), is to support the development of 

strong financial sectors and sound public financial management in countries where 

assistance is needed and there is a strong commitment to reform. 

OTA pursues this mission in support of the Treasury Department’s overall mission “to 

maintain a strong economy and create economic and job opportunities by promoting the 

conditions that enable economic growth and stability at home and abroad” as well as 

broader U.S. Government international objectives, such as increasing transparency and 

accountability, reducing corruption, and strengthening the development of market-based 

policies and practices.

Vision. OTA aims to build upon its reputation as a high-quality provider of financial 

sector technical assistance and policy advice. It aims to be recognized as the provider of 

choice wherever its multi-disciplinary assistance model best addresses country needs and 

U.S. Government objectives. 

The foundation of OTA’s program will continue to reside in five core disciplines—

Revenue Administration and Policy, Budget and Financial Accountability, Government 

Debt and Infrastructure Finance, Banking and Financial Services, and Economic Crimes, 

complemented by the ability to support other aspects of financial sector strengthening.

Values 

• OTA will continue to place the highest priority on capacity building and 

developing country self-sufficiency.

• OTA exits countries when project objectives are accomplished or if country 

commitment to reform is not sustained.

• OTA program engagements are distinguished by flexibility, selectivity, and 

responsiveness.

• OTA recognizes that its core strength lies in the dedication, adaptability, and 

expertise of its advisors. 

Programmatic Goals

• Encourage depth of engagement and an integrated, multi-discipline approach. 

Where circumstances warrant, deeper, stronger, more comprehensive 

engagements may improve the prospects for material impact. 

• Encourage an approach that targets geographic regions and common financial or 

economic problems. Look for opportunities to place advisors in countries with 

common needs by virtue of location, financial structure (e.g., significant 
21

dependence upon donor revenue), or dislocations (e.g., highly affected by 

extractive industry income). 

• Provide specialized multi-discipline programs and rapid response teams to 

support key U.S. Government priorities.

• Recruit, retain and support a cadre of advisors that manifests OTA’s tradition of 

excellence. 

• Continue to strengthen OTA coordination within Treasury and with other parts of 

the U.S. Government. 

• Enhance awareness of Treasury’s technical assistance program.

• Ensure that OTA’s management systems fully support the achievement of OTA’s 

mission. 
22

Table A

2022 TIATA Budget Execution Plan

Projects Funded by Treasury International Affairs Technical Assistance (TIATA) Appropriations
23
24
25

Notes

1. TIATA figures include carryover of prior year TIATA funds.

2. Figures include program management (25% of total).

3. OTA Team abbreviations: BDGT = Budget and Financial Accountability; CRME = Economic Crimes; BANK = Banking and Financial Services; DEBT = Government Debt 

and Infrastructure Finance; RVNU = Revenue Administration and Policy.

4. Co-funding amounts may reflect funds intended for more than one year.
26

Table B

2022 Non-TIATA Sources of Funding