Office of International Affairs

The Office of Financing Operations

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The Office of Financing Operations has oversight responsibility for the Multilateral Development Banks' (MDBs) financing proposals and country development strategies. The Office is also responsibility for MDB environment policy, private sector policy, and the operations of three of the private sector MDBs.

The Office reviews individual MDB loans, grants and technical assistance operations before they are presented to the relevant Board of Directors for approval and prepares recommendations as to whether the U.S. should support each operation. The Office seeks to ensure that MDB projects meet appropriate economic and development objectives, environmental and social impact standards, have strong results frameworks, and are consistent with U.S. legislation. The Office of Financing Operations reviews the country strategies that each MDB prepares for individual borrowers and which serve as the MDB's medium term business plan for the borrower. The Office also reviews MDB policies pertaining to the environmental and social impacts of their operations. The Office of Financing Operations has responsibility for three of the private sector windows of the MDBs: the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), as well as general MDB private sector development policies and initiatives. In all of its activities the Office works closely with other Treasury offices, USED offices, and other USG agencies.