Foreign Assistance: U.S. Russia Fund Is Following Its Investment Selection Process and Criteria

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A letter report issued by the General Accounting Office with an abstract that begins "This report summarizes GAO's findings on the United States Russia Fund and its investment selection process and criteria. The United States established enterprise funds to support private sector development in Central and Eastern Europe and the former Soviet Union as they move from centrally planned to market-oriented economies. Enterprise funds are private, nonprofit U.S. corporations that are supposed to make loans to, or invest in, small, medium, and large businesses in which other financial institutions are reluctant to invest. The Fund is authorized to receive $440 ... continued below

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United States. General Accounting Office. October 2, 2000.

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Description

A letter report issued by the General Accounting Office with an abstract that begins "This report summarizes GAO's findings on the United States Russia Fund and its investment selection process and criteria. The United States established enterprise funds to support private sector development in Central and Eastern Europe and the former Soviet Union as they move from centrally planned to market-oriented economies. Enterprise funds are private, nonprofit U.S. corporations that are supposed to make loans to, or invest in, small, medium, and large businesses in which other financial institutions are reluctant to invest. The Fund is authorized to receive $440 million through the Agency for International Development. As of March 2000, the Fund had invested $114.4 million in 30 projects through its direct investment program which provides loans and equity capital to businesses in Russia. GAO found that the Fund followed its review process and criteria for selecting direct investments."

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Government Accountability Office Reports

The U.S. Government Accountability Office (GAO) is an independent, nonpartisan agency that works for the U.S. Congress investigating how the federal government spends taxpayers' money. Its goal is to increase accountability and improve the performance of the federal government. The Government Accountability Office Reports Collection consists of over 13,000 documents on a variety of topics ranging from fiscal issues to international affairs.

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  • October 2, 2000

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  • June 11, 2014, 5:03 a.m.

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United States. General Accounting Office. Foreign Assistance: U.S. Russia Fund Is Following Its Investment Selection Process and Criteria, report, October 2, 2000; Washington D.C.. (digital.library.unt.edu/ark:/67531/metadc293744/: accessed July 28, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.