ABSTRACT

U.S. International Development Finance Corporation: Actions Needed to Improve Management of Defense Production Act Loan Program, Report to Congressional Committees   [open pdf - 1MB]

From the Highlights: "DFC [U.S. International Development Finance Corporation], the U.S. government's international development finance institution, began operations in December 2019. In June 2020, DFC and DOD started using certain DPA [Defense Production Act] authorities to conduct a 2-year domestic loan program to respond to the COVID-19 [coronavirus disease 2019] pandemic and strengthen relevant U.S. supply chains, under the President's Executive Order 13922. Members of Congress have expressed concern about DFC's ability to manage DPA activities along with its international development mission. House of Representatives Report 116- 444 included a provision for GAO [Government Accountability Office] to review DFC's activities under the DPA. This report examines the extent to which DFC has (1) made loans that contributed to the pandemic response and planned to assess program effectiveness; (2) assessed and responded to the organizational risks of carrying out DPA activities along with its international development responsibilities; and (3) implemented internal controls to ensure full accounting of its DPA costs for DOD reimbursement."

Report Number:
GAO-22-104511
Publisher:
Date:
2021-11
Copyright:
Public Domain
Retrieved From:
Government Accountability Office: https://www.gao.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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