Overseas Private Investment Corporation July 2015 – Federal Register Recent Federal Regulation Documents

Under the provisions of the Paperwork Reduction Act (44 U.S.C. chapter 35), agencies are required to publish a Notice in the Federal Register notifying the public that the agency is modifying an existing information collection for OMB review and approval and requests public review and comment on the submission. Comments are being solicited on the need for the information; the accuracy of OPIC's burden estimate; the quality, practical utility, and clarity of the information to be collected; and ways to minimize reporting the burden, including automated collected techniques and uses of other forms of technology. The proposed changes to OPIC-248 clarifies existing questions, incorporates sector-specific development impact questions, and eliminates ineffective questions in an effort to harmonize development impact indicators with other Development Finance Institutions (``DFIs''). OPIC is a signatory to a ``Memorandum of Understanding'' with 25 partnering DFIs to harmonize developmental impact metrics where possible. The goal of this effort is to reduce the burden on clients that seek financing from multiple DFIs and to instill best practices in the collection and the reporting on OPIC's developmental impacts. In order to minimize the reporting burden on respondents, OPIC has designed OPIC-248 as an electronic form that has multiple drop-down options, in which the respondent only responds to questions that are applicable to their investment.