Treasury International Programs

Program Summary

Dollars in Thousands

 FY 2012 FY 2013 FY 2014 FY 2012 TO FY 2014

Budget Activity Enacted Annualized 

CR Rate Request $ Change % Change

Economic Growth, National Security and Poverty 

Reduction (MDBs) $1,958,538 $1,970,525 $2,103,029 $144,491 7.38%

International Development Association (IDA) $1,325,000 $1,333,109 $1,358,500 $33,500 2.53%

International Bank for Reconstruction and Development 

(IBRD) $117,364 $118,083 $186,957 $69,593 59.30%

Inter-American Development Bank (IDB and FSO) $75,000 $75,459 $102,020 $27,020 36.03%

Multilateral Investment Fund (MIF) $25,000 $25,153 $6,298 ($18,702) -74.81%

Inter-American Investment Corporation (IIC) $4,670 $4,699 $0 ($4,670) -100.00%

Asian Development Bank (AsDB) $106,586 $107,238 $106,586 $0 0.00%

Asian Development Fund (AsDF) $100,000 $100,612 $115,250 $15,250 15.25%

African Development Bank (AfDB) $32,418 $32,616 $32,418 $0 0.00%

African Development Fund (AfDF) $172,500 $173,556 $195,000 $22,500 13.04%

Food Security $165,000 $166,010 $165,000 $0 0.00%

Global Agriculture and Food Security Program (GAFSP)1 $135,000 $135,826 $135,000 $0 0.00%

International Fund for Agricultural Development (IFAD) $30,000 $30,184 $30,000 $0 0.00%

World Bank Environmental Trust Funds $324,350 $326,335 $427,450 $103,100 31.79%

Clean Technology Fund (CTF)2

$184,630 $185,760 $215,700 $31,070 16.83%

Strategic Climate Funds (SCF)3

$49,900 $50,205 $68,000 $18,100 36.27%

Global Environment Facility (GEF)4

$89,820 $90,370 $143,750 $53,930 60.04%

Debt Relief $186,500 $187,641 $175,300 ($11,200) -6.01%

Multilateral Debt Relief Initiative (MDRI) for AfDF $91,000 $7,546 $30,000 ($61,000) -67.03%

MDRI for IDA $83,500 $168,022 $145,300 $61,800 74.01%

Tropical Forest Conservation Act (TFCA) $12,000 $12,073 $0 ($12,000) -100.00%

Treasury Office of Technical Assistance $27,000 $27,156 $23,500 ($3,500) -12.96%

Office of Technical Assistance (OTA) $27,000 $27,156 $23,500 ($3,500) -12.96%

Middle East Transition Fund $0 $0 $5,000 $5,000 NA

Middle East Transition Fund $0 $0 $5,000 $5,000 NA

Total $2,661,388 $2,677,667 $2,899,279 $237,891 8.94%

1

FY 2012 Enacted amount does not include the transfer of $25 million from the Development Assistance Account. 

FY 2013 Annualized CR Rate does not include the transfer of $14.6 million from the Development Assistance 

Account.

2 FY 2012 Enacted amount does not include the transfer of $45 million from the Economic Support Fund.

3 FY 2012 Enacted amount does not include the transfer of $25 million from the Economic Support Fund.

4

FY 2012 Enacted amount does not include the transfer of $30 million from the Economic Support Fund.
Summary

Economic Growth, National Security and 

Poverty Reduction: Multilateral 

Development Banks 

The FY 2014 Request for the multilateral 

development banks (MDBs) is comprised 

almost entirely of annual commitments 

negotiated and authorized in previous years. 

These include a continuation of the capital 

increases at the International Bank for 

Reconstruction and Development (IBRD), the 

Inter-American Development Bank (IDB), the 

African Development Bank (AfDB), and the 

Asian Development Bank (AsDB). 

Investments in multilateral institutions remain 

a cost-effective way to promote U.S. national 

security, support broad-based and sustainable 

economic growth, and address key global 

challenges like environmental degradation, 

while fostering private sector development and 

entrepreneurship. Continued support 

preserves U.S. leadership at the MDBs—

leadership that has greatly benefited both the 

MDBs and U.S. taxpayers for more than 60 

years. 

Treasury’s Request includes funding for the 

concessional windows at the MDBs that 

support the world’s poorest countries. MDB 

concessional facilities are an important source 

of financing for development needs in many of 

the world’s most fragile and post-conflict 

states. The projects they support help save 

lives by combatting extreme hunger and 

poverty while promoting global stability, 

prosperity, and private sector growth. The FY 

2014 Request includes funding for the third 

and final installment of the sixteenth 

replenishment of the International 

Development Association (IDA) and the third 

and final installment of the twelfth 

replenishment of African Development Fund 

(AfDF). In addition, Treasury is requesting 

funding that will both meet the U.S. 

commitment to the first installment of the 

tenth replenishment of the Asian Development 

Fund (AsDF) and clear a portion of U.S. 

arrears at the AsDF, which currently total over 

$326 million. Treasury’s Request also 

includes $6.3 million to clear a portion of the 

outstanding U.S. arrears to the Multilateral 

Investment Fund (MIF). 

Food Security

The FY 2014 Request includes $135 million 

for a contribution to the Global Agriculture 

and Food Security Program (GAFSP). 

Investments made by GAFSP continue to 

make major strides in improving agricultural 

development in countries seeking to reduce 

food insecurity. In 18 countries, smallholder 

farmers have seen significant increases in 

productivity on a per hectare basis with 

corresponding income gains. In Haiti, farmers 

have more than doubled their yields; in 

Bangladesh, farmers have had their first-ever 

surplus of rice. GAFSP is responsive to 

country needs and is aligned with their own 

home-grown strategies. It fosters cooperation 

among donors and allocates resources based 

on results.

The food security budget also includes $30 

million for the second of three installments for 

the ninth replenishment of the International 

Fund for Agricultural Development (IFAD), 

the only global development finance 

institution solely dedicated to improving food 

security for the rural poor. This request is 

equivalent to our annual commitment under 

the previous replenishment, made in 2008.

Environment and Clean Energy

The FY 2014 Request includes $427.5 million 

for the Global Environment Facility (GEF), 

the Clean Technology Fund (CTF), and three 

programs supported by the Strategic Climate 

Fund (SCF): The Pilot Program for Climate 

Resilience (PPCR), the Forest Investment 

Program (FIP), and the Program for Scaling up 

Renewable Energy in Low-Income Countries 

(SREP). FY 2014 funding for Treasury’s 
multilateral environment and clean energy 

programs will spur direct action and 

investment by other countries to reduce their 

own pollution sources and advance ongoing 

efforts. These global actions mitigate threats 

to our domestic environment that increasingly 

originate beyond our own borders, enhancing 

our national security and providing 

opportunities for U.S. businesses, especially in

clean energy.

The U.S. contribution leverages significant 

funding from other donors, developing country 

governments, development institutions, and 

the private sector. Each U.S. dollar 

contributed to the GEF, CTF, and SCF 

leverages four to five additional dollars from 

other donors and six to ten times that from 

other funding sources—including the private 

sector.

Debt Relief 

The FY 2014 Request includes $175.3 million 

to meet a portion of the U.S. commitment to 

the Multilateral Debt Relief Initiative (MDRI) 

at IDA and the AfDF under the current 

replenishment cycles. MDRI, together with 

associated debt relief efforts, reduced the debt 

burden for participating countries by about 90 

percent as compared to the debt levels existing 

prior to entering the debt relief process. As a 

result, these countries have been able to 

increase poverty-reducing expenditures by an 

average of more than three percentage points 

of GDP over the past ten years.

Middle East and North Africa Transition 

Fund

The FY 2014 Request includes $5 million for 

the Middle East and North Africa Transition 

Fund, a new multi-donor trust fund 

administered by the World Bank. This fund 

was created under the U.S. chairmanship of 

the Group of 8 to assist Arab countries that are 

members of the Deauville Partnership with 

Arab Countries in Transition (currently Egypt, 

Tunisia, Jordan, Morocco, Libya, and Yemen) 

as they address their diverse economic 

challenges during their political transitions. 

The fund provides quick dispensation for small 

grants to help countries put in place economic 

policies and government reforms that will 

allow them to attract greater flows of capital. 

A wide range of countries have already 

provided or committed to provide funding, 

including the United Kingdom, Saudi Arabia, 

Canada, France, Japan, Russia, Kuwait, and 

Qatar.

Treasury Technical Assistance 

The FY 2014 Request includes $23.5 million 

for Treasury’s Office of Technical Assistance 

(OTA). This small program achieves big 

objectives as it fosters economic growth by 

enabling a government to provide better 

services for its citizens and reduce dependency 

on foreign aid. For over 20 years, OTA has 

helped developing countries build effective 

financial management systems—a core 

element of a well-functioning state. These 

financial management systems include: 

building efficient revenue collection, wellplanned and executed budgets, judicious debt 

management, sound banking systems, and 

strong controls to combat corruption and other 

economic crimes. The program provides 

significant, cost-effective value for U.S. 

development, foreign policy, and national 

security objectives.

International Monetary Fund

Treasury is seeking legislation within its FY 

2014 Budget Request for the International 

Monetary Fund (IMF). G-20 leaders and the

IMF membership reached agreement at the 

2010 Seoul Summit on a set of IMF quota and 

governance reforms designed to enhance IMF 

effectiveness. The U.S. successfully achieved 

its negotiating priorities: (1) a U.S. quota 

increase with a corresponding roll back in our 

participation in the IMF’s New Arrangements 
to Borrow (NAB); and, (2) preservation of 

U.S. veto power in the IMF.

Legislation is needed to increase the U.S. 

quota in the IMF by approximately $63 billion 

and simultaneously reduce by an equal amount 

U.S. participation in the NAB. This action 

results in no overall change in U.S. financial 

participation in the IMF. The legislation is 

also necessary to allow the U.S. to accept an 

amendment to the IMF Articles of Agreement 

facilitating changes in the composition of the 

IMF Executive Board while preserving the 

U.S. board seat.

Since its inception, the IMF has been a critical 

tool for the U.S. in promoting global financial 

stability. The IMF supports U.S. jobs, exports, 

and financial markets. During crises abroad, 

the U.S. leverages the IMF to protect our 

domestic economy. 

As the world’s largest economy, the U.S. is the 

only country with a veto to shape major IMF 

governance and resource decisions. As 

emerging economies play a bigger role and 

seek greater influence, it is critical that the 

U.S. maintains its influence in the global 

economy in the coming years. This requires 

ensuring the IMF remains the leading first 

responder with adequate quota resources and 

that the U.S. continues to preserve its veto 

power. Unless the U.S. acts now to honor its 

IMF commitments, we risk jeopardizing our 

leadership position.

Finally, the IMF is a safe and smart 

investment, with a rock solid balance sheet 

including reserves and gold holdings that 

exceed total IMF credit outstanding (about 

$140 billion). The IMF has never defaulted on 

any U.S. reserve claims on the IMF since its 

inception nearly 70 years ago.

The required authorization requests, including 

for mandatory funding for the IMF quota 

increase and NAB rollback, will be submitted 

separately. The proposal has an assumed 

enactment date in fiscal year 2013. The net 

cost of the proposed IMF legislation is zero, 

both in terms of budget authority and outlays.

Description of Performance

Strengthening transparency and ensuring 

accountability are critical objectives of the 

United States’ continued support for the 

MDBs and other International Programs, and 

Treasury is tightly focused on these criteria. 

That is why Treasury actively seeks clear and 

consistent accountability standards and 

measures, and promotes policies that direct 

funds to what has been proven to work and 

away from what cannot be measured. 

Performance, transparency, monitoring, and 

results are at the heart of all of these efforts.

As a result of U.S. leadership in these areas, 

the MDBs have adopted expansive disclosure 

requirements, stronger auditing functions, 

better internal controls and are at the leading 

edge of impact evaluations and performancedriven investment. Treasury has also 

succeeded in fostering cutting-edge systems 

for measuring, monitoring, and incorporating

development results in MDB operations, and 

persuading the MDBs to adopt mechanisms 

under which donor funds are distributed on the 

basis of performance. In this way, the MDBs 

provide strong incentives to recipient countries 

to fulfill their obligations, greatly improving 

prospects for success, and strengthening 

economic growth and development. 

Treasury also pursues these same standards in 

the Technical Assistance programs, and across 

the other important International Programs 

managed by the Department.