African Development Bank - Investment Climate StatementAfDB - Foreign Investment

Openness to and Restrictions upon Foreign Investment

Achieving AfDB Group priorities requires robust private sector involvement and growth. The ultimate goal is to achieve in-country development beyond the need of financial assistance. The AfDB Group supports borrowing countries in attracting, facilitating, and retaining domestic and foreign investment, as well as maximizing the positive spillover effects of private investment on the local economy. 
The AfDB Group also advises borrowers of the risks that barriers to foreign direct investment can have on development. In some cases, these laws limit foreign ownership of key aspects of the project, or prohibit foreign ownership outright if the investment is deemed to be inconsistent with the AfDB’s own criteria, or the respective country’s criteria. To learn about the climate for FDI in countries of interest, see the “Openness to and Restrictions upon Foreign Direct Investment” section of each country’s Country Commercial Guide. Information on how these policies apply to a given project may be included in the standard bidding documents. In addition, one should consult the AfDB’s Country Strategy Papers for more information on investment climate.

Conversion and Transfer Policies

The AfDB Group recognizes Article XIV of the Articles of Agreement of the International Monetary Fund, which allows countries to maintain restrictions on payments and transfers for international transactions in order to promote a stable exchange rate for the settlement of the country’s balance of payments.

PROJECT PROCUREMENT
Payments to or from countries that maintain restrictions will be subject to those restrictions for both payments and transfers. This includes interactions between contractors and borrowing country governments. To learn about conversion and transfer policies in countries of interest, see the “Conversion and Transfer Policies” sections of each country’s Country Commercial Guide. To learn about options for insuring against currency inconvertibility, you may wish to review the products offered by the U.S. Government’s Overseas Private Investment Corporation (OPIC).

CORPORATE PROCUREMENT
The AfDB Group itself procures consulting and advisory services, often in relation to other AfDB Group funded projects. Conversion and transfer policies are not a concern in these procurements. Contracts between consultants and the AfDB Group are denominated in UAC and local currency. Payments made by the AfDB Group directly to the consultant are subject to Conversion and Transfer Policies if denoted in a currency in need of conversion.

PRIVATE SECTOR SOLUTIONS
Private Sector Department activities through the AfDB involve a number of different instruments, which include lending and non-lending services. Lending activities can include focused efforts on Industries & Services, Public-Private Partnerships (PPPs) & Infrastructure. Non-lending activities can include studies, initiatives, and new programs. The Private Sector Department recognizes that restrictions on conversion and transfers can reduce a country’s ability to attract investors and develop local capital markets. When considering involvement in a Private Sector Department-supported project, U.S. firms should ensure that any restrictions on conversion and transfers of the host country would not prevent host country entities from meeting foreign currency liabilities or honoring financial obligations. To learn about conversion and transfer policies in countries of interest, see the “Conversion and Transfer Policies” section of each country’s Country Commercial Guide. To learn about options for insuring against currency inconvertibility, you may wish to review the products offered by the U.S. Government’s Overseas Private Investment Corporation (OPIC).

Legal Regime

Expropriation and Compensation
The AfDB Group operates in many challenging political and economic environments, including where risks of expropriation may be present. As such, the AfDB offers partial credit and risk guarantees to encourage investment and development.
To learn about policies regarding expropriation in countries of interest, see the “Expropriation and Compensation” section of each country’s Country Commercial Guide. To learn about options for insuring against expropriation, you may wish to review the products offered by the U.S. Government’s Overseas Private Investment Corporation (OPIC). If in need of assistance with mediation and dispute settlement see the Dispute Settlement Section.

Dispute Settlement

The African Development Bank Group views Corruption, Fraud and other Sanctionable Practices as highly inimical to the achievement of its mandate. In order to spur sustainable economic development and social progress on the continent, the AfDB endorses a multipronged approach to combating these harmful practices.

PROJECT PROCUREMENT
Valid disputes must violate the AfDB’s Sanctionable Practices under Section 4: “Sanctionable Practices.” Should a dispute arise, applicable parties should make every effort to resolve any disagreement or dispute amicably by direct informal negotiation. The accusing party shall promptly issue a “Notice of Dispute” to the other party, addressing the disagreement or dispute, as well as providing all relevant information. If the issue remains unresolved after 45 days from the issuance of the “Notice of Dispute”, then either party may require that the dispute be settled via arbitration in accordance with the UNCITRAL Arbitration Rules.
The Arbitral Tribunal shall comprise of one arbitrator jointly chosen by both parties. If both parties are unable to reach an agreement within 60 days of the Conciliation Notice, the London Court of International Arbitration (LCIA) shall become the appointing authority. Arbitration shall take place in a mutually agreed location, conversed in the English language. The resulting award is final and binding on both parties and will be in lieu of any other remedy.

For further information, consult “Section 16.0 Dispute Settlement” of the AfDB’s General Terms and Conditions for the Purchase of Goods, Works and Services. In addition, Dispute Resolution can also be found under the General Conditions of Contract (GCC) in a standard bidding document for Goods, Works and Services. Specific requirements for dispute resolution vary on the Special Conditions of Contract (SCC) as specified in the agreed upon contract. Consult the specific project contract for more details on dispute resolution for the project in question.
To learn about dispute settlement mechanisms in countries of interest, see the “Dispute Settlement” section of each country’s Country Commercial Guide.

CORPORATE PROCUREMENT
Complaints regarding the AfDB’s Corporate Procurement Award Procedures should be addressed to the Director of the General Services and Procurement Department.
 
Award protest procedures are available only to participating bidders in the procurement process that were not awarded a contract. Non-responsive, late, or cancellation of submissions constitutes disqualification from the Award Protest Procedure. An unsuccessful bidder must inform the Director of General Services and Procurement Department in writing within 7 days of receiving the AfDB’s regret letter or debriefing, whichever is earlier. Protest notifications must include: Protestors name, address, phone number, fax, email address, Bank tender reference, a detailed statement of the grounds for protest, and copies of all relevant documents supporting the protestor’s statement.

Protest notifications submitted after the 7 day period, or lack a basis for protest will not be considered. Upon receipt of a written protest, the Director of General Services and Procurement Department shall provide the protestor with a written acknowledgement within 5 working days, initiate a review of the protestor’s allegations, and following the conclusion of the review, notify the protestor in writing of the decision and the basis which it was made.

Decisions of the Director of General Services and Procurement Division will be final and conclusive unless within 7 working days from the receipt of the decision, the protestor files a written appeal to the Vice-President of Corporate Services. The Vice-President of Corporate Services will examine the appeal. The determination by the Vice-President of Corporate Services will then be final and conclusive.
For more information, consult “Section XII. Dispute Resolution” under the AfDB Group’s Award Protest Procedure.

PRIVATE SECTOR SOLUTIONS
Given the nature of the Private Sector Department’s activities, the rules that govern dispute settlements for project and corporate procurement do not apply. All Private Sector Department funded projects are subject to the AfDB’s Private Sector Development Policy. For more information on dispute settlements in regards to the Private Sector, contact the Director of the Private Sector Department.

INDEPENDENT REVIEW MECHANISM
The mandate of the Independent Review Mechanism (IRM) is to provide people adversely affected by a project financed by the AfDB Group, with an independent mechanism through which they can request the AfDB to comply with its own policies and procedures. A request may be filed by: A group of 2 or more people in the country or countries where the AfDB Group project is located, an appointed local representative acting on explicit instructions as an agent for the adversely affected people, a foreign representative acting as an agent for the adversely affected people, or the Boards of Directors of the AfDB Group. A request should contain the following: A reference to the project which states all relevant facts including harm suffered, how parties have been or are likely to be materially and adversely affected, an explanation of how AfDB Group Policies were violated when requesting a compliance review, an indication if there has been any previous communication between the affected parties and the AfDB Group regarding the issue raised in the request, and an explanation if all of the above information cannot be provided. All requests must be submitted in writing, dated, and signed by the requestors and contain their names, contact addresses, and an address to which correspondence shall be sent. Requestors and other interested persons may request that their identities be kept confidential. Requests should be submitted in either English or French; however, requests may be submitted in a local language if it is impossible to obtain a translation. For further information on Request Life Cycles and IRM submissions, consult the Independent Review Mechanism’s Operating Rules and Procedures.
 
Right to Private Ownership and Establishment
To learn about policies regarding private ownership rights in countries of interest, see the “Right to Private Ownership and Establishment” section of each country’s Country Commercial Guide. As well, contact the U.S. Commercial Officer to the AfDB for more information.

Protection of Property Rights

To learn about policies regarding protection of property rights in countries of interest, see the “Protection of Property Rights” section of each country’s Country Commercial Guide. As well, contact the U.S. Commercial Officer to the AfDB for more information.

Transparency of the Regulatory System
To learn about the transparency of regulatory systems in countries of interest, see the “Transparency of the Regulatory System” section of each country’s Country Commercial Guide. As well, contact the U.S. Commercial Officer to the AfDB for more information.

Efficient Capital Markets and Portfolio Investment.

The AfDB’s Private Sector Department helps develop local capital markets through assisting African governments improve the business enabling environment, and creating a strong demonstration effect by assisting entrepreneurs to achieve success. The Private Sector Department helps member countries develop stronger capital markets through Non-sovereign guaranteed lending, and non-lending activities such as studies and initiatives. In addition to these activities, the AfDB offers Partial Risk and Credit Guarantees to encourage investment. To learn about capital markets in countries of interest, see the “Efficient Capital Markets and Portfolio Investment” section of each country’s Country Commercial Guide.

Competition from State-Owned Enterprises

To learn about policies regarding competition from State-Owned Enterprises (SOEs) in countries of interest, see the “Competition from State-Owned Enterprises” section of each country’s Country Commercial Guide.

'PROJECT PROCUREMENT
According to the AfDB’s Procurement Policy, only eligible firms may bid on goods, works, and consulting services for contracts financed by the AfDB Group. SOEs are eligible to bid on AfDB Group funded projects if they can establish to the AfDB’s satisfaction that they are: legally and financially autonomous, operate under commercial law, and are not dependent agencies of the borrower or sub-borrower. The only exception to this is if the Bank is satisfied that the resulting conflict-of-interest situation will be resolved. For more information on SOE eligibility, consult the AfDB’s Procurement Policy.

CORPORATE PROCUREMENT
SOEs are eligible to register as vendors to and to compete for contracts with the AfDB Group so long as they observe the AfDB’s Code of Conduct for Service Providers, Suppliers, and Contractors.
 
PRIVATE SECTOR SOLUTIONS
SOEs may participate in Private Sector Department funded projects if they meet its Eligibility Criteria, and the Private Sector Department’s Development Policy.
Corporate Social Responsibility. Good corporate governance plays an important role in promoting both economic efficiency and equity (through lower cost of capital, larger capital markets, higher market valuation of firms, and profits). A significant number of RMCs continue to face endemic problems such as corruption, institutional instability, lack of transparency and accountability, and a weak rule of law. The AfDB is committed to improving Corporate and Social Responsibility within its member countries, which is ultimately governed by the AfDB’s Corporate Governance Strategy. To learn more about Corporate Social Responsibility in countries of interest to your firm see the “Corporate Social Responsibility” section of each country’s Country Commercial Guide.

Political Violence

Given the nature of the AfDB Group’s member countries, the AfDB is committed to reducing the levels of violence and strengthening fragile and week states. Under the Fragility & Resilience Initiative, the AfDB provides supplemental resources, arrears-clearance, access to debt relief, and support to critical capacity building interventions to member states in need.
“Political Violence” section of each country’s Country Commercial Guide.
For up-to-date information on political and security conditions in countries of interest, please refer to the State Department Consular Bureau’s Travel Warning and Country Specific Information at http://www.travel.state.gov/. U.S. Citizens traveling overseas are encouraged to register with the Smart Traveler Enrollment Program (STEP) so that U.S. Embassies can contact you and your loved ones and provide assistance in an emergency.
U.S. businesses and organizations overseas are also welcome to inquire at the Embassy about joining the Overseas Security Advisory Committee (OSAC).

Corruption

Corruption and other Sanctionable Practices, raise the costs and risks of doing business in countries of interest. These practices have a negative impact on both market opportunities for U.S. companies overseas, and the broader business climate.
It is important for U.S. companies to assess the business climate in the markets of interest, as well as operate an effective compliance program to prevent and detect corruption and other sanctionable practices. U.S. individuals and firms operating or investing in foreign markets should be familiar with the anticorruption laws of the foreign country (and the United States) to ensure compliance. The African Development Bank Group: The African Development Bank Group views corruption, fraud and other sanctionable practices as highly inimical to the achievement of its mandate. In order to spur sustainable economic development and social progress on the continent, AfDB endorses a multipronged approach to combating these harmful practices. The AfDB’s Integrity and Anti-Corruption Department (IACD) has the overriding mandate to carry out independent investigations into allegations of corruption, fraud and other sanctionable practices in AfDB Group Financed Operations.
 
The Integrity and Anti-Corruption Department’s investigative powers promote tighter adherence to the highest standards of corporate governance and integrity. This strategy is reflected in its composition. The IACD is comprised of two divisions: the Integrity and Prevention Division (IACD.1) and the Investigations Division (IACD.2). The IACD does not make sanction decisions. IACD.2 receives allegations of sanctionable practices and conducts investigations. It then forwards its report to the relevant authority under the Bank’s sanctions process.

The IACD’s Strategy relies on: Proactive prevention through risk assessments, sensitization programs, and due diligence, mainstreaming integrity issues into AfDB Group operations and activities, providing technical support to regional member countries in integrity issues and enhancing accountability, participation in international and regional integrity initiatives, and investigations, sanctions and other deterrence processes.
U.S. Foreign Corrupt Practices Act: In 1977, the United States enacted the Foreign Corrupt Practices Act (FCPA), which makes it unlawful for U.S. persons and businesses (domestic concerns), and U.S. and foreign public companies listed on stock exchanges in the United States or which must file periodic reports with the Securities and Exchange Commission (issuers), to offer, promise or make a corrupt payment or anything of value to foreign officials to obtain or retain business. The FCPA also applies to foreign firms and persons who take any act in furtherance of such a corrupt payment while in the United States. In addition to the anti-bribery provisions, the FCPA contains accounting provisions applicable to public companies.
The accounting provisions require issuers to make and keep accurate books and records and to devise and maintain an adequate system of internal accounting controls. The accounting provisions also prohibit individuals and businesses from knowingly falsifying books or records or knowingly circumventing or failing to implement a system of internal controls. In order to provide more information and guidance on the statute, the Department of Justice and the Securities and Exchange Commission published A Resource Guide to the U.S. Foreign Corrupt Practices Act, available in PDF at: http://www.justice.gov/criminal/fraud/fcpa/guidance/. For more detailed information on the FCPA generally, see the Department of Justice FCPA website at: http://www.justice.gov/criminal/fraud/fcpa/.

Other Instruments: It is U.S. Government policy to promote good governance, including host countries’ implementation and enforcement of anti-corruption laws and policies pursuant to their obligations under international agreements. Since enactment of the FCPA, the United States has been instrumental to the expansion of the international framework to fight corruption. Several significant components of this framework are the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions negotiated under the auspices of the OECD (Anti-bribery Convention), the United Nations Convention against Corruption (UN Convention), the Inter-American Convention against Corruption (OAS Convention), the Council of Europe Criminal and Civil Law Conventions, and a growing list of U.S. free trade agreements.

OECD Anti-bribery Convention: The Anti-bribery Convention entered into force in February 1999. As of January 2016, there are 41 parties to the Convention, including the United States (see http://www.oecd.org/corruption/oecdantibriberyconvention.htm). Major exporters China and India are not parties, although the U.S. Government strongly endorses their eventual accession to the Anti-bribery Convention. The Anti-bribery Convention obligates the Parties to criminalize bribery of foreign public officials in international business transactions, which the United States has done under U.S. FCPA.

UN Convention: The UN Convention entered into force on December 14, 2005, and there are 178 parties to it as of January 2016 (http://www.unodc.org/unodc/en/treaties/CAC/signatories.html).
The UN Convention requires countries to establish criminal and other offences to cover a wide range of acts of corruption, from basic forms of corruption such as bribery and solicitation, embezzlement, and trading in influence to the concealment and laundering of the proceeds of corruption. The Convention contains transnational business bribery provisions that are functionally similar to those in the OECD Anti-bribery Convention and contains provisions on private sector auditing and books and records requirements. Other provisions address matters such as prevention, international cooperation, and asset recovery.

AS Convention: In 1996, the Member States of the Organization of American States (OAS) adopted the first international anticorruption legal instrument, the Inter-American Convention against Corruption (OAS Convention), which entered into force in March 1997. The OAS Convention, among other things, establishes a set of preventive measures against corruption, provides for the criminalization of certain acts of corruption, including transnational bribery and illicit enrichment, and contains a series of provisions to strengthen the cooperation between its States Parties in areas such as mutual legal assistance and technical cooperation. As of January 2016, the OAS Convention has 34 parties (http://www.oas.org/juridico/english/Sigs/b-58.html) and the follow-up mechanism created in 2001 (MESICIC) has 31 members (http://www.oas.org/juridico/english/mesicic_intro_en.htm).

Council of Europe Criminal Law and Civil Law Conventions on Corruption: Many European countries are parties to either the Council of Europe (CoE) Criminal Law Convention on Corruption, the Civil Law Convention on Corruption, or both. The Criminal Law Convention requires criminalization of a wide range of national and transnational conduct, including bribery, money-laundering, and accounting offenses. It also incorporates provisions on liability of legal persons and witness protection. The Civil Law Convention includes provisions on whistleblower protection, compensation for damage relating to corrupt acts, and nullification of a contract providing for or influenced by corruption, inter alia. The Group of States against Corruption (GRECO) was established in 1999 by the CoE to monitor compliance with these and related anti-corruption standards. Currently, GRECO comprises 49 member States (48 European countries and the United States).
See http://www.coe.int/t/dghl/monitoring/greco/general/about_en.asp.
As of January 2016, the Criminal Law Convention has 44 parties and the Civil Law Convention has 35 parties. See:
http://conventions.coe.int/Treaty/Commun/QueVoulezVous.asp?CL=ENG&NT=173; http://conventions.coe.int/Treaty/Commun/QueVoulezVous.asp?CL=ENG&NT=174)

Free Trade Agreements: While it is U.S. Government policy to include anticorruption provisions in free trade agreements (FTAs) that it negotiates with its trading partners, the anticorruption provisions have evolved over time. The most recent FTAs negotiated now require trading partners to criminalize “active bribery” of public officials (offering bribes to any public official must be made a criminal offense, both domestically and trans-nationally) as well as domestic “passive bribery” (solicitation of a bribe by a domestic official). All U.S. FTAs may be found at the U.S. Trade Representative website: http://www.ustr.gov/trade-agreements/free-trade-agreements.

Local Laws: U.S. firms should familiarize themselves with local anticorruption laws, and, where appropriate, seek legal counsel. While the U.S. Department of Commerce cannot provide legal advice on local laws, the Department’s U.S. and Foreign Commercial Service can provide assistance with navigating the host country’s legal system and obtaining a list of local legal counsel. 

Assistance for U.S. Businesses: The U.S. Department of Commerce offers several services to aid U.S. businesses seeking to address business-related corruption issues. For example, the U.S. and Foreign Commercial Service can provide services that may assist U.S. companies in conducting their due diligence as part of the company’s overarching compliance program when choosing business partners or agents overseas. The U.S. and Foreign Commercial Service can be reached directly through its offices in every major U.S. and foreign city, or through its website at www.trade.gov/cs. The United States provides commercial advocacy on behalf of exporters of U.S. goods and services bidding on public sector contracts with foreign governments and government agencies. An applicant for advocacy must complete a questionnaire concerning its background, the relevant contract, and the requested U.S. Government assistance. The applicant must also certify that it is in compliance with applicable U.S. law, that it and its affiliates have not and will not engage in bribery of foreign public officials in connection with the foreign project, and that it and its affiliates maintain and enforce a policy that prohibits bribery of foreign public officials. Problems, including alleged corruption by foreign governments or competitors, encountered by U.S. companies in seeking such foreign business opportunities can be brought to the attention of appropriate U.S. government officials, including local embassy personnel, and reported through the Department of Commerce Trade Compliance Center “Report a Trade Barrier” Website at tcc.export.gov/Report_a_Barrier/index.asp. Potential violations of the FCPA can be reported to the Department of Justice via email to FCPA.Fraud@usdoj.gov.

Guidance on the U.S. FCPA: The Department of Justice’s (DOJ) FCPA Opinion Procedure enables U.S. firms and individuals and issuers to request a statement of the Justice Department’s present enforcement intentions under the anti-bribery provisions of the FCPA regarding actual, prospective business conduct. The details of the opinion procedure are available on DOJ’s Fraud Section Website at www.justice.gov/criminal/fraud/fcpa and general information is contained in Chapter 9 of the publication A Resource Guide to the U.S. Foreign Corrupt Practices Act, at http://www.justice.gov/criminal/fraud/fcpa/guidance/. Although the Department of Commerce has no enforcement role with respect to the FCPA, it supplies information to U.S. exporters who have questions about the FCPA and about international developments concerning the FCPA. For further information, see the Office of the General Counsel, U.S. Department of Commerce. More information on the FCPA is available at the websites listed below.
Exporters and investors should be aware that generally all countries prohibit the bribery of their public officials, and prohibit their officials from soliciting bribes under domestic laws. Most countries are required to criminalize such bribery and other acts of corruption by virtue of being parties to various international conventions discussed above.

Anti-Corruption Resources
Some useful resources for individuals and companies regarding combating corruption in global markets include the following: Information about the U.S. Foreign Corrupt Practices Act (FCPA), including A Resource Guide to the U.S. Foreign Corrupt Practices Act, translations of the statute into numerous languages, documents from FCPA related prosecutions and resolutions, and press releases are available at the U.S. Department of Justice’s Website at: http://www.justice.gov/criminal/fraud/fcpa and http://www.justice.gov/criminal/fraud/fcpa/guidance/

The U.S. Securities and Exchange Commission FCPA Unit also maintains an FCPA website, at: https://www.sec.gov/spotlight/fcpa.shtml. The website, which is updated regularly, provides general information about the FCPA, links to all SEC enforcement actions involving the FCPA, and contains other useful information. General information about anticorruption and transparency initiatives, relevant conventions and the FCPA, is available at the Department of Commerce Office of the General Counsel website:http://www.commerce.gov/os/ogc/transparency-and-anti-bribery-initiatives. The Trade Compliance Center hosts a website with anti-bribery resources, at http://tcc.export.gov/Bribery. This website contains an online form through which U.S. companies can report allegations of foreign bribery by foreign competitors in international business transactions. Additional country information related to corruption can be found in the U.S. State Department’s annual Human Rights Report available at http://www.state.gov/g/drl/rls/hrrpt/. Information about the OECD Anti-bribery Convention including links to national implementing legislation and country monitoring reports is available at: http://www.oecd.org/corruption/oecdantibriberyconvention.htm See also Anti-bribery Recommendation http://www.oecd.org/daf/anti-bribery/oecdantibriberyrecommendation2009.htm and Good Practice Guidance Annex for companies: http://www.oecd.org/daf/anti-bribery/44884389.pdf.
GRECO monitoring reports can be found at: http://www.coe.int/t/dghl/monitoring/greco/evaluations/index_en.asp. MESICIC monitoring reports can be found at: http://www.oas.org/juridico/english/mesicic_intro_en.htm

The Asia Pacific Economic Cooperation (APEC) Leaders have also recognized the problem of corruption and APEC Member Economies have developed anticorruption and ethics resources in several working groups, including the Small and Medium Enterprises Working Group, at http://businessethics.apec.org/, and the APEC Anti-Corruption and Transparency Working Group, at http://www.apec.org/Groups/SOM-Steering-Committee-on-Economic-and-Technical-Cooperation/Working-Groups/Anti-Corruption-and-Transparency.aspx. For more information on APEC generally, http://www.apec.org/. There are many other publicly available anticorruption resources which may be useful, some of which are listed below without prejudice to other sources of information that have not been included. (The listing of resources below does not necessarily constitute U.S. Government endorsement of their findings.). 

Transparency International (TI) publishes an annual Corruption Perceptions Index (CPI). The CPI measures the perceived level of public-sector corruption in approximately 180 countries and territories around the world. The CPI is available at: http://www.transparency.org/research/cpi/overview. TI also publishes an annual Global Corruption Report which provides a systematic evaluation of the state of corruption around the world. It includes an in-depth analysis of a focal theme, a series of country reports that document major corruption related events and developments from all continents, and an overview of the latest research findings on anti-corruption diagnostics and tools. See http://www.transparency.org/research/gcr.
The World Bank Institute’s Worldwide Governance Indicators (WGI) project reports aggregate and individual governance indicators for 215 economies over the period 1996-2014, for six dimensions of governance (Voice and Accountability, Political Stability and Absence of Violence, Government Effectiveness, Regulatory Quality, Rule of Law, and Control of Corruption). See http://info.worldbank.org/governance/wgi/index.aspx#home.
The World Bank Business Environment and Enterprise Performance Surveys may also be of interest and are available at: http://data.worldbank.org/data-catalog/BEEPS. See also the World Bank Group Doing Business reports, a series of annual reports measuring regulations affecting business activity, available at: http://www.doingbusiness.org/.

The World Economic Forum publishes every two years the Global Enabling Trade Report, which assesses the quality of institutions, policies and services facilitating the free flow of goods over borders and to their destinations. At the core of the report, the Enabling Trade Index benchmarks the performance of 138 economies in four areas: market access; border administration; transport and communications infrastructure; and regulatory and business environment. See http://www.weforum.org/reports/global-enabling-trade-report-2014. Global Integrity, a nonprofit organization, publishes its annual Global Integrity Report, which typically assesses anti-corruption and good governance mechanisms in diverse countries. For more information on the report, see https://www.globalintegrity.org/global-report/what-is-gi-report/.

Bilateral Investment Agreements

Bilateral, multilateral agreements and taxation treaties affect AfDB Group funded projects. In countries that the United States has Trade Promotion/Free Trade Agreements, U.S. firms bidding on projects may utilize competitive advantages over firms from countries that do not have the same agreements. Vice versa, in countries that the United States does not have Trade Promotion/Free Trade Agreements, U.S. firms may be disadvantaged against firms from countries that do have such agreements.
To learn about the status of bilateral trade and investment agreements in countries of interest to your firm see the “Bilateral Investment Agreements” section of each country’s Country Commercial Guide.

OPIC and Other Investment Insurance Programs

The U.S. Government offers loans and guarantees, political risk insurance and support for private equity funds through the Overseas Private Investment Corporation (OPIC). These services help U.S. firms engage with confidence in over 150 countries, including some of the world’s most challenging operating environments.
In addition to OPIC, the AfDB Group offers both Partial Credit and Risk Guarantees in order to help eligible borrowers to obtain financing from third party lenders, including the capital markets. Partial Credit Guarantees can be utilized to support mobilization of private funds for project finance, financial intermediation and policy-based finance. Partial Risk Guarantees on the other hand, cover private lenders against the risk of a government, or a government-owned agency, failing to perform its obligations vis-à-vis a private sector project.
To learn about OPIC and other investment insurance programs in countries of interest to your firm see the “OPIC and Investment Insurance Programs” section of each country’s Country Commercial Guide.

Labor

AfDB Group funded projects take into account social safeguards and labor considerations. It emphasizes projects that encourage opportunities for the youth in Africa. AfDB Selected Projects serve as excellent guides for designing and executing future projects. To learn about labor laws and conditions in countries of interest to your firm see the “Labor” section of each country’s Country Commercial Guide.  committed to improving labor force conditions in its member countries. Projects channeled through the AfDB’s Employment Topic of Interest serve to further progress towards the AfDB’s main goals.

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.