The watchdog for the U.S. International Development Finance Corporation, which finances private sector development, has been somewhat limited in its ability to investigate any fraud, waste, or abuse at the agency, largely due to its lack of law enforcement authority. But lawmakers want to change that with new legislation about to be introduced.
While other inspectors general for United States government agencies have the power to subpoena people and documents, for example, DFC’s do not.
This problem seems to be the result of an omission in the legislation that created the agency; the Better Utilization of Investment Leading to Development Act, or BUILD Act. Now lawmakers want to fix the problem.
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About the author
Adva Saldinger@AdvaSal
Adva Saldinger is a Senior Reporter at Devex where she covers development finance, as well as U.S. foreign aid policy. Adva explores the role the private sector and private capital play in development and authors the weekly Devex Invested newsletter bringing the latest news on the role of business and finance in addressing global challenges. A journalist with more than 10 years of experience, she has worked at several newspapers in the U.S. and lived in both Ghana and South Africa.
