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Department of the Treasury

Agency Overview

The Department of the Treasury is focused on promoting economic prosperity and ensuring the financial security of the United States. Treasury’s Office of International Affairs protects and supports U.S. economic prosperity by strengthening the external environment for U.S. growth, preventing and mitigating global financial instability, and managing key global challenges. In addition, International Affairs manages the U.S. positions in the Groups of Seven (G-7) and Twenty (G-20), the multilateral development institutions, the International Monetary Fund (IMF), the Strategic & Economic Dialogue with China, and numerous other international and bilateral fora.

The Treasury Department oversees U.S. participation in the multilateral development institutions, including specialized trust funds at these institutions. Treasury also provides technical assistance to develop strong financial sectors and sound public financial management in developing countries throughout the world through the Office of Technical Assistance. In addition, Treasury manages international debt policy, and secures funding for multilateral and bilateral debt relief.

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Department of the Treasury Data

U.S. government agencies are adding data to ForeignAssistance.gov quarterly to comply with the Foreign Aid Transparency and Accountability Act of 2016. Each agency is required by law to report at FY2015 as the minimum base year.

Planned Funding By Fiscal Year | Treasury

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Obligated Funding By Fiscal Year | Treasury

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Spent Funding By Fiscal Year | Treasury

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Transaction Data | Treasury

Transaction data represents every individual financial record in an agency’s accounting system for program work with implementing partners and administrative expenses. Transaction data is the most granular form of financial data. Each data record - or financial transaction - contains qualitative data fields, including descriptive titles, vendor names, and location, along with the financial data. Thus, transaction data is called Disaggregated data as it disaggregates financial data into its most basic form.

The data shown above in the planned, obligated, and spent tabs represents transaction data aggregated at a higher level of analysis (by country and sector only), thus this data is called Aggregated data.

The table below displays every applicable award within each agency’s accounting system. An award may consist of multiple financial transactions. In these instances, the table displays the award’s aggregated sum of its individual transactions. Data from the table can be downloaded by selecting each individual award. The downloadable report disaggregates award data into individual transactions. If an award has multiple transactions, the downloadable report will generate lines of data for each transaction.

For additional information related to data definitions and classifications, please refer to the Glossary of Terms or the FAQs.

This data set will continue to be updated in accordance with Office of Management and Budget (OMB) Bulletin 12-01.

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Frequently Asked Questions | Treasury

What is the Treasury Department?

The Treasury Department is the executive agency responsible for promoting economic prosperity and ensuring the financial security of the United States. The Department is responsible for a wide range of activities such as advising the President on economic and financial issues, encouraging sustainable economic growth, and fostering improved governance in financial institutions. The Department works with other federal agencies, foreign governments, and international financial institutions to encourage global economic growth, raise standards of living, and to the extent possible, predict and prevent economic and financial crises. Through its role within the international financial institutions, Treasury supports projects to curb food insecurity and environmental degradation, to build regional infrastructure projects, and to alleviate poverty. The Treasury Department also performs a critical and far-reaching role in enhancing national security by implementing economic sanctions against foreign threats to the U.S., identifying and targeting the financial support networks of national security threats, and improving the safeguards of our financial systems.

When was the Department of the Treasury created?

The Treasury Department was formally established as an executive department by the First Congress of the United States in 1789, to manage government finances. However, even before the formal establishment of the Department, functions such as administering the revolutionary government’s finances and then managing the finances of the new nation were being carried out.

Please visit the Department of the Treasury’s History Page for more information.

What are the multilateral development institutions?

The United States is a member of several multilateral development institutions, including the:

  • African Development Bank
  • Asian Development Bank
  • European Bank for Reconstruction and Development
  • Inter-American Development Bank
  • International Fund for Agricultural Development
  • North American Development Bank
  • World Bank

The multilateral development institutions are owned by member countries and provide financial and technical assistance to emerging markets and developing countries. The United States is the largest shareholder in the World Bank and Inter-American Development Bank, the co-largest shareholder (with Japan) at the Asian Development Bank, and the largest non-regional shareholder of the European Bank for Reconstruction and Development and the African Development Bank.

What is Treasury’s role?

In the United States Government, Treasury is charged with leading the United States’ engagement in the multilateral development institutions. For the five largest institutions, the United States appoints an Executive Director (USED), who is based at the institution and represents U.S. interests. Treasury works closely with the USEDs and a wide-ranging interagency group on development institution issues, with the Department of State and USAID playing important roles.

How do the multilateral institutions finance development projects?

Most of the multilateral development institutions have two financing facilities, which are frequently referred to as “windows,” from which they make loans and provide grants:

  • The “soft loan” window is for concessional lending that provides loans on highly favorable terms (e.g., extremely low or no interest, long repayment periods) or grants to countries that have very low per-capita income levels or are unable to borrow from private markets. These are the “soft loan” or concessional windows for each multilateral development institution:
    • African Development Fund (African Development Bank)
    • Asian Development Fund (Asian Development Bank)
    • Fund for Special Operations (Inter-American Development Bank)
    • International Development Association (World Bank)

Because the European Bank for Reconstruction and Development is private sector-oriented, it does not have a “soft loan” window.

  • The “hard loan” window is for non-concessional lending that provides loans to middle-income countries, such as Colombia and Botswana, and some creditworthy low-income countries, such as Indonesia and Nigeria, at market-based interest rates. These are the “hard loan” or non-concessional windows for each multilateral development institution:
    • Asian Development Bank
    • European Bank for Reconstruction and Development
    • Inter-American Development Bank
    • The International Bank for Reconstruction and Development (World Bank)

How are the Multilateral Development Institutions funded?

Countries are referred to as “shareholders” in an MDB and hold a certain percentage of shares based on their contributions. At times, shareholders provide new funding to support the hard loan or soft loan windows. This funding can take three forms:

  • Capital replenishments
  • General capital increases
  • Selective capital increases

Capital Replenishments: Because financing for the “soft loan” windows is provided on such generous terms to the very poorest countries, concessional funds need to be replenished every three to four years.

General Capital Increases: Under a general capital increase (GCI), MDB shareholder governments agree to increase capital to support the MDBs “hard loan” windows by purchasing additional shares in the institution. Unlike replenishments, GCIs happen infrequently because these windows are largely self-financing. Periodically however, MDBs will seek to bolster their capital in order to increase or sustain lending levels.

The financing arrangements for GCIs are unique. Unlike replenishments, only a small portion of the total commitment is paid directly to an MDB. This portion is called “paid-in” capital, and typically ranges from 5-10 percent of the total increase. The pay-in period often ranges significantly (e.g., from three to eight years).

The remainder of the commitment is made in the form of “callable capital.” Callable capital represents a pledge made by shareholders, but there is no actual transfer of funds. These commitments are meaningful because they enable the MDBs to borrow against them, and, in turn, lend to borrowers at rates lower than what they could obtain in the markets. An MDB can only seek the transfer of callable capital to its own accounts in the unlikely event that it becomes unable to access private capital markets or use its own resources to cover obligations on its own loans (i.e., funds borrowed on the market) or on loans it has guaranteed. No MDB has ever sought such a transfer of callable capital.

Selective Capital Increases: Selective capital increases (SCI) have not been used as a fundraising vehicle, but instead to allocate new shares to eligible members based on economic weight, financial contributions and development contributions. An SCI is a means of realigning shareholding to alter an MDB’s decision making. Unlike a GCI, where shares are allocated to members in proportion to their existing shareholding, SCI realignment is done on a non-proportional basis and can be used to help better reflect global trends and ensure that the poorest countries have a voice.

What do new capital commitments mean for the United States?

Negotiations for new capital are not limited to questions of financing needs. In fact, the United States has used the opportunity created by capital increase negotiations to pursue a robust agenda for new policy commitments from the MDB and other shareholders. The United States has consistently used its leadership position to advocate for new initiatives designed to strengthen development effectiveness. Typically, Treasury focuses on policies to strengthen transparency, safeguards, governance, accountability, and results. Recently, Treasury has also emphasized the need for policies to strengthen fiscal discipline within the MDBs and to protect capital. In addition, Treasury has successfully pressed for MDBs to transfer an increasing share of profits from the hard loan windows to the soft loan windows that support the poorest countries. These transfers achieve two important objectives: they help the MDBs maintain their focus on the neediest borrowers and they reduce the financial burden on shareholders.

What are the implications for failure to meet commitments to the Multilateral Development Institutions?

  • General Capital Increases (GCIs): When a shareholder fails to purchase the shares that it committed to buy in the capital increase negotiations, the relative shareholding of that country can become diluted and its voting power in the institution may decrease.
  • Replenishments: When a country does not provide the full amount of its commitment on time, it deprives borrowing countries of resources and encourages other countries to scale back their commitments and withhold their contributions. This has a particularly significant impact in the institutions that provide support for the poorest countries (International Development Association, the Asian Development Fund, and the African Development Fund).

What is the Treasury Department’s Office of Technical Assistance (OTA)?

The mission of the Department of the Treasury's Office of Technical Assistance (OTA) is to support the development of strong financial sectors and sound public financial management in countries where both assistance is needed and there is a strong commitment to reform.

Since its creation in 1990, OTA has helped many countries develop and implement market-based financial policies and management practices that support growing economies and stable democracies. Although OTA focuses on the public sector, the benefits of improved public financial management serve the wider community, including citizens, private enterprise, and other interests in the economy at large. A government that manages the public purse with integrity and effectiveness not only delivers essential services better, it also builds credibility with its citizens and throughout the world.

OTA expert advisors work directly with their counterparts in finance ministries, central banks, tax departments and other public sector financial institutions. Assistance may be provided on a sustained basis by resident advisors or by intermittent advisors who travel overseas for short-term assignments.

For more information visit www.TreasuryOTA.us.

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