Treasury International Programs

Program Summary

Dollars in thousands

Budget Activity

FY 2014 

Enacted

FY 2015 

Enacted

FY 2016 

Request

Of which, 

payment toward 

unmet 

commitments

International Monetary Fund (IMF) $0 $0 $62,000 $0

Multilateral Development Banks (MDBs) $2,075,449 $1,999,804 $2,188,353 $246,472

International Development Association (IDA) $1,355,000 $1,287,800 $1,290,600 $0

Multilateral Debt Relief Initiative (MDRI) for IDA $0 $0 $111,000 $111,000

International Bank for Reconstruction and Development (IBRD) $186,957 $186,957 $192,920 $5,964

Inter-American Development Bank (IDB and FSO) $102,000 $102,020 $102,020 $0

Multilateral Investment Fund (MIF) $6,298 $3,378 $0 $0

African Development Fund (AfDF) $176,336 $175,668 $227,500 $32,500

Multilateral Debt Relief Initiative (MDRI) for AfDF $0 $0 $13,500 $13,500

African Development Bank (AfDB) $32,418 $32,418 $34,118 $1,700

Asian Development Bank (AsDB) $106,586 $106,586 $5,608 $5,608

Asian Development Fund (AsDF) $109,854 $104,977 $166,086 $76,200

North American Development Bank (NADB) $0 $0 $45,000 $0

Food Security $163,000 $30,000 $74,930 $1,930

Global Agriculture and Food Security Program (GAFSP) $133,000 $0 $43,000 $0

International Fund for Agricultural Development (IFAD) $30,000 $30,000 $31,930 $1,930

Environmental Trust Funds $428,280 $401,000 $548,563 $31,700

Green Climate Fund (GCF) $0 $0 $150,000 $0

Clean Technology Fund (CTF)1 $209,630 $184,630 $170,680 $0

Strategic Climate Funds (SCF)1 $74,900 $49,900 $59,620 $0

Global Environment Facility (GEF) $143,750 $136,563 $168,263 $31,700

ESF Statutory Transfer2 $0 $29,907 $0 $0

Treasury Office of Technical Assistance $23,500 $23,500 $28,000 $0

TOTAL $2,690,229 $2,454,304 $2,901,846 $280,102

2

 Provided by sec. 7060(c)(8) of the Consolidated and Further Continuing Appropriations Act, 2015. 

1

 FY 2014 Enacted includes $25 million provided under sec. 7060(c)(8) of the Consolidated Appropriations Act, 2014. 
Summary

International Monetary Fund

Treasury is seeking appropriations and 

authorization language within the FY 2016 

request for the International Monetary Fund 

(IMF). In 2010, G-20 Leaders and the IMF 

membership decided on a set of quota and 

governance reforms designed to strengthen 

the IMF’s critical role within the international 

system. The 2010 reforms are an important 

step toward modernizing IMF governance to 

better reflect countries’ economic weights in 

the global economy, while preserving U.S. 

leadership and veto power.

The proposed appropriations and 

authorization language would reduce U.S. 

participation in the IMF’s New Arrangements 

to Borrow (NAB) by approximately $59 

billion and increase the U.S. quota by an 

equal amount, for no net change in the overall 

U.S. financial commitment to the IMF. The 

proposal also authorizes the United States to 

accept an amendment to the IMF Articles of 

Agreement that will facilitate changes in the 

composition of the IMF Executive Board 

while preserving U.S. influence in the Board.

Completing the IMF reforms is a national 

security and economic policy priority for the 

United States. The Administration is 

proposing a discretionary funding approach, 

but we are prepared to work with Congress on 

other feasible approaches to get legislation 

passed as soon as possible, including 

mandatory funding approaches.

Multilateral Development Banks

Treasury’s request provides $366 million for 

annual general capital increase (GCI) 

commitments at the multilateral development 

banks (MDBs). FY 2016 is the first year that 

scheduled funding will not be required for the 

Asian Development Bank (AsDB) GCI, 

though funding is included for our unmet 

AsDB commitments. In addition, FY 2016 is 

the final year of scheduled payments for the 

ongoing GCIs at the World Bank’s 

International Bank for Reconstruction and 

Development (IBRD) and Inter-American 

Development Bank (IDB). GCI payments for 

the African Development Bank (AfDB) are 

scheduled to continue through FY 2019. 

A new initiative in this request is a GCI for 

the North American Development Bank 

(NADB), which finances environmental 

infrastructure on the U.S.-Mexican border. 

Our request includes the first of five $45 

million installments in paid-in capital for the 

GCI. In addition to a total of $1.3 billion in 

callable capital, plus matching funds from the 

Government of Mexico, this request would 

support a doubling of the NADB’s capital 

over five years. The President announced the 

NADB capital increase at this year’s meeting 

of the High-Level Economic Dialogue, 

reflecting a strong U.S. commitment to 

deepen engagement with Mexico. NADB is 

well respected in the border region and has 

helped communities in both the United States 

and Mexico access critical infrastructure such 

as wastewater services. In recent years, 

NADB has provided renewable energy to 

residents in border states and has promoted

new private sector investment in the sector 

along the border. Without a capital increase, 

NADB will lack the financial resources 

needed to continue supporting these important 

investments. Mexico announced its support 

for a capital increase in March 2014.

Our request also provides $1.6 billion to fully 

meet our annual replenishment commitments 

to the World Bank’s International 

Development Association (IDA), the African 

Development Fund (AfDF), and the Asian 

Development Fund (AsDF). 
Food Security

The request includes $43 million for the 

Global Agriculture and Food Security 

Program (GAFSP), the multilateral 

component of the President’s Feed the Future 

initiative. This amount is enough to match 

$86 million in new commitments from other 

donors, in line with the United States’ pledge 

to provide $1 for every $2 provided by other 

donors, up to a total U.S. contribution of $475 

million. In addition, the request includes the 

first payment of $30 million towards the new 

replenishment of the International Fund for 

Agricultural Development (IFAD). 

Environment and Clean Energy

Our request includes $150 million toward the 

U.S. pledge to the Green Climate Fund 

(GCF), providing a total of $500 million 

when combined with $350 million requested 

through the Department of State. Joining 

other nations, the United States pledged $3 

billion – not to exceed 30 percent of total 

confirmed pledges – to this new $10 billion 

fund, which will support the transition of 

developing countries to a more sustainable 

development path. The GCF will also 

mobilize private sector resources toward clean 

and reliable energy and toward increased 

resilience. It will build on the best practices 

and lessons learned from the Climate 

Investment Funds (CIFs), to which the 

previous Administration pledged $2 billion 

with bipartisan support. Our request includes 

$230 million to fully meet the remainder of 

this commitment to the CIFs. It also fully 

funds the annual replenishment commitment 

to the Global Environment Facility (GEF) at 

$137 million and includes $32 million to pay 

down our unmet commitments. 

Unmet Commitments

U.S. unmet commitments, which now exceed 

$1.5 billion, erode U.S. credibility, pose a 

threat to our ability to shape the policy 

priorities of the MDBs and related funds, and 

in some cases hamper the ability of these 

entities to deliver results. Our FY 2016 

request would reduce these unmet 

commitments by $280 million. In making 

allocations, we have maximized paying down 

those unmet commitments that are most 

damaging to U.S. credibility and to the 

programming capacity of the entities. We 

have also sought to avoid incurring new 

unmet commitments.

Specifically, the FY 2016 request allocates 

$33 million for unmet commitments at the 

AfDF. Our nearly $180 million in unmet 

commitments to the AfDF severely constrain 

the AfDF’s overall programming capacity. 

Paying down our unmet commitments would 

demonstrate our sustained support for this 

institution, which is a key partner in reducing 

poverty in Africa. AfDF makes critical 

contributions to Power Africa and other 

international efforts to address Africa’s 

massive infrastructure needs. AfDF works to 

combat the Ebola epidemic and assists many 

of the poorest and most fragile countries in 

the world. 

The request also includes $76 million to pay 

down our unmet commitments to the AsDF. 

Our over $300 million in unmet commitments 

constrain the AsDF’s commitment capacity. 

Paying down some of our unmet 

commitments would increase AsDF 

assistance, including to support Afghanistan 

through the political and military transitions, 

promote energy sector reform in Pakistan, 

bolster the democratic transition in Burma, 

and help Central Asia reduce its economic 

dependence on Russia. 

Our FY 2016 request also includes funding 

for our unmet commitments to the 

Multilateral Debt Relief Initiative (MDRI). 

MDRI provides 100 percent cancelation of 

eligible debt owed to IDA and AfDF by 
countries reaching the completion point under 

the Heavily Indebted Poor Countries (HIPC) 

initiative. With no funding appropriated in 

FY 2014 or FY 2015, the unmet U.S. 

commitments to MDRI at IDA and AfDF 

have climbed to $300 million. In this request, 

we have included $111 million for IDA and 

$14 million for AfDF. The United States was 

the leading advocate for the creation of 

MDRI, which was established to identify 

sustainable debt solutions to the severe 

financial difficulties faced by in the world’s 

poorest countries. The U.S. share of the cost 

of MDRI is projected to grow rapidly in the 

future, reaching an annual amount of over 

$300 million from FY 2021 through FY 2029, 

after which the cost will decline until MDRI 

ends in FY 2044.

The FY 2016 request includes $13 million for 

our unmet IBRD, AfDB, and AsDB 

commitments in order to prevent a permanent 

loss of shareholding at those institutions. In 

addition, the request includes $2 million 

toward unmet commitments at IFAD and, as 

noted above, $32 million at the GEF.

Treasury Office of Technical Assistance

Our request includes $28 million for the 

Treasury Office of Technical Assistance 

(OTA). This amount approximately restores 

prior levels, with an increase of nearly $5 

million over the FY 2015 enacted level. The 

requested increase reflects a strong and 

increasing demand for OTA assistance to 

support U.S. economic and security priorities 

in Central America, Africa, Asia, Ukraine and 

other conflict zones. The request also allows 

for a modest but important expansion of 

OTA’s work in priority areas, including 

infrastructure finance and domestic resource 

mobilization, which helps partner countries 

generate revenue and manage their resources 

more effectively. OTA will coordinate with 

the Department of State, USAID, and other 

government agencies in the whole of 

government approach for the U.S. Strategy 

for Engagement in Central America.