GAO finds gaps in Treasury reviews of development bank projects that may affect U.S. producers

Treasury's process for deciding whether to oppose multilateral development bank projects that could harm American producers has gaps, the Government Accountability Office said in a report released Nov. 10, 2026.

By law, Treasury must instruct U.S. representatives at these banks to oppose assistance for producing commodities or minerals that are in surplus on world markets and whose export would cause substantial injury to U.S. producers. GAO said Treasury has criteria for assessing surplus but rarely applies them, according to Treasury officials, and has no criteria for assessing substantial injury. Without such criteria, GAO said, Treasury could take different positions on similar projects.

According to GAO, Treasury cast more than 11,000 votes on bank projects from January 2015 to August 2025 and supported 83 percent of the 340 projects likely covered by the law. GAO said Treasury's public voting records do not show which projects it considered relevant to the law.

In one case study, GAO found that bank-supported shrimp farming projects in Ecuador led to more shrimp imports and may have contributed to lower U.S. prices. GAO did not find evidence linking bank projects to challenges facing U.S. rice producers. GAO said both industries also faced other challenges.

GAO made four recommendations, and Treasury agreed with all of them, according to the report.

Source: U.S. Government Accountability Office.

Originally published by True News: https://truenews.bagleyenterprises.net/stories/951