This information is derived from the State Department's Office of Investment Affairs, Investment Climate Statement. Any questions on the ICS can be directed to EB-ICS-DL@state.gov

Executive Summary

Openness to, & Restrictions Upon, Foreign Investment

IDB is an agent of economic development for the region, channeling financial and intellectual resources through sovereign guarantee lending (IDB), debt and equity investing in the private sector (IDB Invest), and innovative lending and grant work (MIF). One of the primary goals of the Bank is to improve the economic and business environment in the borrowing countries to drive great FDI flows to, and within, the region.

Individual FDI rules, incentives, and restrictions vary by country and are addressed in the Country Commercial Guide for each country. Generally speaking, the IDB supports borrowing countries in attracting, facilitating, and retaining FDI, and in maximizing the positive spillover effects of FDI on the local economy. The IDB also advises borrowers of the deleterious effects that constraints on FDI have on development.

The IDB’s private sector lending arm, the IDB Invest, plays an important role in mitigating risk for private enterprise, commercial lenders, and other sources of FDI. IDB Invest debt and equity investment is offered according to requirements of the project to meet social and environmental safeguards as well as bankability and credit-worthiness. IDB Invest has a keen awareness of risks and rewards and the relative openness of borrowing countries to FDI.

That said, the IDB is not prescriptive with regard to borrowing country policies. Each country sets its own laws on FDI, and IDB funded project is structured in accordance with those laws. In some cases these laws limit foreign ownership of key aspects of the project, or reject foreign ownership outright if the investment is deemed to be inconsistent with national security, economic development, or other national interest objectives.

Again, to learn about the overall posture toward FDI in countries of interest to your firm see the “Openness to and Restrictions upon Foreign Direct Investment” section of each country’s Country Commercial Guide.

Project Procurement
Whether from borrowing country government to primary contractor, or from primary contractor to subcontractor or supplier, payments to or from countries that maintain restrictions on payments and transfers will be subject to those restrictions. To learn about conversion and transfer policies in countries of interest to your firm see the “Conversion and Transfer Policies” sections of each country’s Country Commercial Guide. To learn about options for insuring against currency inconvertibility review the products offered by the U.S. Government’s Overseas Private Investment Corporation (OPIC) and the Multilateral Investment Guarantee Agency (MIGA).

Corporate Procurement

The IDB itself procures consulting and advisory services, often in relation to IDB, IDB Invest, or MIF funded projects. Conversion and transfer policies are not a concern in these procurements. Contracts between consultants and the IDB Group are denominated in U.S. dollars or local currency. Payments are made by the IDB Group directly to the consultant.

Private Sector Solutions
When seeking IDB Invest financing for an investment, American firms should take care to ensure that any restrictions on conversion and transfers of the host country will not prevent host country entities from meeting foreign currency liabilities or honoring financial obligations. IDB Invest involvement in a private sector project lends credibility to the project and can enhance its profile in country, but it will not enable a U.S. company to expect modification of existing conversion or transfer policies.

To learn about conversion and transfer policies in countries of interest to your firm see the “Conversion and Transfer Policies” section of each country’s Country Commercial Guide. To learn about options for insuring against currency inconvertibility review the products offered by the U.S. Government’s Overseas Private Investment Corporation (OPIC) and the Multilateral Investment Guarantee Agency (MIGA).

Bilateral Investment Agreements

Bilateral and multilateral trade and investment agreements, and taxation treaties, are all in effect in the conduct of IDB Group funded operations. In countries with which the United States has Trade Promotion/Free Trade Agreements, American firms bidding on projects may enjoy competitive advantages over firms from countries that do not have such agreements. Similarly, in countries with which the United States does not have Trade Promotion/Free Trade Agreements, American firms bidding on projects may be at a competitive disadvantage 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.

Efficient Capital Markets and Portfolio Investment
The IDB and the Inter-American Investment Corporation (IDB Invest), the private-sector window of the IDB Group are heavily involved in strengthening local capital markets and working with financial intermediaries (i.e., national development banks). Hurdles to raising funds in local currency can obligate firms in many developing countries to borrow in foreign currencies, exposing them to exchange-rate and other risks. To learn about the functioning of capital markets in countries of interest to your firm see the “Efficient Capital Markets and Portfolio Investment” section of each country’s Country Commercial Guide.

Legal Regime

Transparency of the Regulatory System
The IDB advises borrowing governments of the importance of a transparent regulatory system. It also provides loans to improve regulatory systems and recognizes the relationship between economic development, FDI flows, and a solid regulatory environment. The IDB utilizes the World Bank’s Country Policy and Institutional Assessment (CPIA) ranking, including an indicator on property rights and rules-based governance, to assess how conducive a country’s policy and institutional framework is to fostering poverty reduction, sustainable growth, and the effective use of development assistance. The World Bank’s well known and highly regarded annual Doing Business report also includes an indicator on registering property.

To learn about policies regarding protection of property rights in countries of interest to your firm see the “Protection of Property Rights” section of each country’s Country Commercial Guide.

Expropriation and Compensation
Achieving IDB priorities requires attracting contractors, suppliers, investors, insurers and other private-sector actors into difficult operating environments. While the IDB advises borrowers of the deleterious effects that concerns over the risk of expropriation have on development, it is not prescriptive with regard to borrowing country policies and actions. To learn about policies regarding expropriation in countries of interest to your firm see the “Expropriation and Compensation” section of each country’s Country Commercial Guide. To learn about options for insuring against expropriation review the products offered by the U.S.

Government’s Overseas Private Investment Corporation (OPIC) and the Multilateral Investment Guarantee Agency (MIGA).

An IDB-backed project with sovereign guarantee (IDB) or via the private sector window, IDB Invest, can be considered to represent additional “natural” protection against expropriation or other government action. It is expected that a borrowing government that expropriates a project where IDB has committed resources will face inquiry from the IDB and the case will receive additional international attention. This can be considered a type of “insurance” but by no means is it a substitute for OPIC or MIGA protection.

Dispute Settlement
Promoting transparency in government administration and reducing the incidence of corrupt activities are stated IDB interests in support of goals of reducing poverty and inequality in Latin America and the Caribbean. The Bank funds projects specifically designed to strengthen governance, enforce the rule of law, and fight corruption at both local and national levels.

Project Procurement
While projects funded by the IDB are subject to on-going monitoring around “prohibited practices” in contracting/procurement decisions, it is incumbent upon bidding companies to be watchful and willing to take action at the first sign of irregularities. It is also strongly recommended to contact early on the U.S. Department of Commerce (DOC) representative to the IDB, Barbara White at Barbara.white@trade.gov to engage USG resources in support of the concern.

Companies with issues or concerns about the procurement process complaints instructed to first address directly with the borrowing government agency responsible for the project or the “Executing Agency”. In parallel, it is helpful to advise the IDB staff in country of the issue so that they are prepared to act if the Executing Agency is not responsive. If direct engagement does not yield a satisfactory result or action, companies should proceed to submit a formal complaint as described below.

Complaint mechanisms are explained in detail in “Section I.2. Applicability” in the document “Sanctions Procedures.”

When filing a complaint with the IDB Group, the name & number of the Inter-American Development Bank (IDB) Group-financed project (if available), who committed the grievance, what happened specifically, when it happened, where it happened, who else might have information, and who else knows that the report is filed should be submitted in a timely manner to the Office of Institutional Integrity (OII) via email (OII-reportfraud@iadb.org) or anonymously via their website. From there, sanction procedures can begin in order to determine proper recourse.

Upon receiving a complaint, the President of OII will appoint a sanctions officer. This officer will review and determine whether or not the allegation is worth pursuing. If it is worth pursuing, the sanction officer will recommend the case to a Sanctions Committee. The committee will decide on a proper course of action, which can include disregarding the case, reprimanding, debarment, conditional non-debarment, and debarment with conditional release. Sanction procedures are explained in detail in the document “Sanctions Procedures”.

When reporting an allegation one’s identity will be kept confidential by the OII, except as needed to permit an investigation to be undertaken (if appropriate), and to respond to the concerns presented. Further information on the treatment of confidential information in the context of reporting allegations may be found in the Bank’s policy for whistleblower protection.

To learn about dispute settlement mechanisms in countries of interest to your firm see the “Dispute Settlement” section of each country’s Country Commercial Guide

PRIVATE SECTOR SOLUTIONS
The IDB Group, through its private sector lending arm, the IDB Invest, provides private and state-owned companies, financial institutions and non-governmental organizations in Latin America and the Caribbean with project finance solutions to meet specific needs. Non-sovereign guaranteed instruments provided by the IDB Group consist of: Loans, Partial Credit Guarantees, Equity, Political Risk Guarantees, and Technical Assistance. IDB Group does not invest in projects that are deemed illegal under the laws and regulations of the host country or under ratified international agreements or conventions.

In order to file a complaint, companies must follow the same format as noted under the Corporate Procurement Section. Complaints regarding the social, environmental, or economic impact of the private sector investment should be directed towards the MICI. Complaint mechanisms are explained in detail in “Section F, General Criteria for Request Intake” of the document “Policy of the Independent Consultation and Investigation Mechanism of the IDB”.

To learn more about private sector investment opportunities with the IDB, see the “Private Sector Loans” Section via the IDB website. Further questions regarding private sector complaints can be mailed to the Independent Consultation and Investigation Mechanism 1300 New York Ave., NW Washington, D.C. 20577, United States, or via email at mecanismo@iadb.org.

The Independent Consultation and Investigation Mechanism ( MICI)
Outside of the complaint process related to procurement and contractor selection, companies should be aware of the Bank’s system for processing complaints from constituents in the borrowing country. The Independent Consultation and Investigation Mechanism (MICI) receives complaints from communities in the region alleging that they have been harmed by projects financed by one of the Group’s institutions as a result of noncompliance with one or more of its operational policies under which projects are designed, implemented and monitored. It is an entity to where those people potentially affected can appeal if their efforts to resolve their concerns with Management (country office and / or officials at the IDB Group directly responsible for the particular project) do not obtain positive results given a prudential time. The MICI covers all operations financed by the IDB, the MIF or the IDB Invest, from as of the date they are approved, and up to 24 months after the final disbursement.

Complaints regarding the IDB should be directed towards the MICI. Complaint mechanisms are explained in detail in “Section F, General Criteria for Request Intake” of the document “Policy of the Independent Consultation and Investigation Mechanism of the IDB”.

Complaints can be emailed to mecanismo@iadb.org or delivered via mail to the Independent Consultation and Investigation Mechanism 1300 New York Ave., NW Washington, D.C. 20577, United States. Complaints can also be sent by mail to any of the IDB Group country offices in the region.

In order to file a complaint, two or more persons residing in the country where the project is located must provide their full names and contact information. If the complainants choose to have a representative file the complaint to the MICI on their behalf, the aforementioned information above, as well as written authorization to act upon the behalf of the complainants is required. The MICI does not accept anonymous complaints. However, the identity of the complainants may be kept confidential if they request it due to fears of retaliation.

The complaint must contain information regarding the complainants, specifications regarding the confidentiality of the information provided, if filed through a representative, representative information, IDB Group Operation/Project information, specifics of harm incurred, evidence of contacting IDB management regarding the issue, and the selection of one or both of MICI’s processes (See “Consultation and Compliance Review Phrase”).

Upon receiving a complaint, the following steps will be taken by MICI. Within a maximum of 5 business days from the date of receipt, the MICI Director reviews the complaint and makes one of the following decisions:

  • Contacts the complainants and grants a period of 10 business days for them to provide missing information. If the complainants fail to provide the missing information by the deadline, the process will be deemed to have terminated.

  • Does not register the complaint and terminates the process

  • Registers the complaint and begins the eligibility stage

If a complaint is eligible, the MICI Director will forward the complaint to the relevant IDB Group Managers, who must respond to the MICI in writing regarding the issues raised in the complaint within a maximum time period of 21 days. Within 21 business days of receipt of Management’s response, the MICI Director will examine the complaint and all of the relevant documentation, and will determine whether the complaint is eligible for a MICI process.

Protection of Property Rights

The IDB advises developing country governments of the importance of solid protections of property rights, and of the deleterious effects that poor protections have on development. It also provides loans to improve property and land registry and recognizes the relationship between economic development, FDI flows, and property rights. The IDB utilizes the World Bank’s Country Policy and Institutional Assessment (CPIA) ranking, including an indicator on property rights and rules-based governance, to assess how conducive a country’s policy and institutional framework is to fostering poverty reduction, sustainable growth, and the effective use of development assistance. The World Bank’s well known and highly regarded annual Doing Business report also includes an indicator on registering property. 

To learn about policies regarding protection of property rights in countries of interest to your firm see the “Protection of Property Rights” section of each country’s Country Commercial Guide.

State-Owned Enterprises

The IDB advises countries around the operation of State-Owned Enterprises (SOEs) including implications for economic development, including inefficient use of valuable assets such as land, real estate and infrastructure, special exemptions from regulations, and special protection from creditors, all of which ultimately discourage domestic and foreign investors from opening and operating businesses and otherwise investing in the market. The Bank offers Policy Based Loans (PBLs) to support developing country governments in their efforts to reform or privatize SOEs. See relevant report issued by IDB here.

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

The InterAmerican Investment Corporation (IDB Invest), the private-sector window of the IDB, is not precluded from entering into financial arrangements with SOEs, and has several open loans to SOEs.

PRIVATE SECTOR SOLUTIONS
The IDB Invest, the private-sector window of the IDB Group, is not precluded.

Corporate Social Responsibility

To learn about the overall posture regarding 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

 To learn about the status regarding political violence in countries of interest to your firm see the “Political Violence” section of each country’s Country Commercial Guide.To learn about the status regarding political violence in countries of interest to your firm see the “Political Violence” section of each country’s Country Commercial Guide.
For up-to-date information on political and security conditions in countries of interest to your firm, please refer to the State Department Consular Bureau’s Travel Warning and Country Specific Information. 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, including bribery, raises the costs and risks of doing business. Corruption has a corrosive impact on both market opportunities overseas for U.S. companies and the broader business climate. It also deters international investment, stifles economic growth and development, distorts prices, and undermines the rule of law.

It is important for U.S. companies, irrespective of their size, to assess the business climate in the relevant market in which they will be operating or investing, and to have an effective compliance program or measures to prevent and detect corruption, including foreign bribery. U.S. individuals and firms operating or investing in foreign markets should take the time to become familiar with the relevant anticorruption laws of both the foreign country and the United States in order to properly comply with them, and where appropriate, they should seek the advice of legal counsel.

Inter-American Development Bank: The IDB Group believes that promoting good governance and tackling corruption are critical to achieving sustainable development and poverty reduction, and considers corruption with the context of prohibited practices and a major challenge to achieving these goals. The World Bank estimates that about $1 trillion is paid each year in bribes around the world, a figure that dwarfs the value of all development assistance. The Bank's approach to fighting corruption combines anticipating and avoiding risks in its own projects with a commitment to helping clients and stakeholders identify and combat corruption at national and international levels. The Bank subjects all potential projects to rigorous scrutiny and works with clients to reduce possible corruption risks that have been identified.

The Bank has a zero-tolerance policy toward corruption in its projects. The Office of Institutional Integrity is an independent unit within the IDB Group that investigates and pursues sanctions related to allegations of fraud and corruption in IDB-financed projects. Allegation involving possible fraud, corruption, collusion, coercion or obstruction in IDB Group-financed projects and/or against IDB Group staff should be directed to INT through the online form. When allegations of fraud and corruption are substantiated, companies involved in misconduct are debarred from engaging in any new Bank-Group-financed activity. Concerned governments receive the findings of Bank Group investigations.

In addition to the IDB Group’s own anti-corruption efforts, the U.S. Government seeks to level the global playing field for U.S. businesses by encouraging other countries to take steps to criminalize their own companies’ acts of corruption, including bribery of foreign public officials, by requiring them to uphold their obligations under relevant international conventions. A U.S. firm that believes a competitor is seeking to use bribery of a foreign public official in international business, for example to secure a contract, should bring this to the attention of appropriate U.S. agencies, as noted below.

U.S. Foreign Corrupt Practices Act: In 1977, the United States enacted the Foreign Corrupt Practices Act (FCPA), which generally 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.  For more detailed information on the FCPA generally, see the Department of Justice FCPA website.

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. Major exporters China and India are not parties, although the U.S. Government strongly endorses their eventual accession to the Antibribery 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. 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.

OAS 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 and the follow-up mechanism created in 2001 (MESICIC) has 31 members.

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).  As of January 2016, the Criminal Law Convention has 44 parties and the Civil Law Convention has 35.

See:
Criminal Law Convention on Corruption Treaty No. 173
Criminal Law Convention on Corruption Treaty No. 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.

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.

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. 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 and general information is contained in Chapter 9 of the publication A Resource Guide to the U.S. Foreign Corrupt Practices Act. Although the Department of Commerce has no enforcement role with respect to the FCPA, it supplies general 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, website. More general 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.
 
The U.S. Securities and Exchange Commission FCPA Unit also maintains an FCPA website. 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.
 
The Trade Compliance Center hosts a website with anti-bribery resources. 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.
Information about the OECD Anti-bribery Convention including links to national implementing legislation and country monitoring reports is available at the OECD website. See also Anti-bribery Recommendation and Good Practice Guidance Annex for companies.
 
GRECO monitoring reports
MESICIC monitoring reports
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 and the APEC Anti-Corruption and Transparency Working Group. For more information on APEC generally, visit the APEC website.
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. 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.
 
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).
 
The World Bank Business Environment and Enterprise Performance Surveys may also be of interest. See also the World Bank Group Doing Business reports, a series of annual reports measuring regulations affecting business activity. 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. Global Integrity, a nonprofit organization, publishes its annual Global Integrity Report, which typically assesses anti-corruption and good governance mechanisms in diverse countries.

Labor

Social safeguards including labor considerations are built into the design of every IDB Group funded operation. American firms participating in any IDB Group funded operation should read the Safeguards Section found on the “Sustainability” tab of the IDB’s website.

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.

OPIC

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 American firms engage with confidence in over 150 countries, including some of the world’s most challenging operating environments.  These services help American and other firms in cross-border investments made by investors in a MIGA member country into a developing member country.

In many developing markets both OPIC and MIGA are active, and their work is often complementary and not mutually exclusive – many projects receive both OPIC and MIGA assistance.

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.

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.