To require the Government Accountability Office to study the World Bank's efforts to measure the success of the projects it finances.

1. Adds SEC. __. STUDY OF WORLD BANK'S EFFORTS TO MEASURE THE SUCCESS OF THE PROJECTS IT FINANCES wherever appropriate

   Adds a section

   Inserted: SEC. __. STUDY OF WORLD BANK'S EFFORTS TO MEASURE THE SUCCESS OF THE PROJECTS IT FINANCES.

   Inserted: (a) Findings.--Congress finds the following:

   Inserted: (1) It is often difficult to determine how financial assistance from the World Bank benefits the recipient countries because the World Bank has vague objectives and places too much emphasis on the amount of financial assistance it gives, rather than on the results of such assistance.

   Inserted: (2) In fiscal year 2006, 20 percent of the funds appropriated under the heading "International Development Association" could not be disbursed until the Secretary of the Treasury certified to the appropriate congressional committees that World Bank procurement guidelines would be applied to all procurement financed in whole or in part by a loan from the International Bank for Reconstruction and Development (IBRD) or a credit agreement or grant from the International Development Association (IDA).

   Inserted: (3) While it is important to develop domestic procurement procedures, the potential for graft and corruption in many other countries is too great to allow the World Bank to deviate from its own process for managing the procurement of goods and services.

   Inserted: (4) A high percentage of senior level World Bank employees enjoy excessive compensation and other benefits, including home leave that reimburses such employees, their families, and their nannies for the expenses associated with travel to their countries of nationality.

   Inserted: (5) Congress is also concerned about the thousands of World Bank consultants whose annual incomes are similar to or even greater than the incomes of senior level World Bank employees.

   Inserted: (b) Sense of Congress.--It is the sense of Congress that the World Bank should increase its focus on performance requirements and measurable results.

   Inserted: (c) Study.--The Comptroller General of the United States shall conduct a study on the actions taken by the World Bank to--

   Inserted: (1) measure the success of the projects financed by IDA;

   Inserted: (2) employ accurate means to measure the effectiveness of projects financed by IDA

   Inserted: (3) combat corruption in governments that receive IDA funding;

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   Inserted: (4) establish clear objectives for IDA projects and tangible means of assessing the success of such projects; and

   Inserted: (5) use World Bank processes and procedures for procurement of goods and services on projects receiving financial assistance from the World Bank.

   Inserted: (d) Report.--The Comptroller General shall submit a report to Congress that includes--

   Inserted: (1) the results of the study conducted under subsection (c);

   Inserted: (2) the number of World Bank employees and consultants; and

   Inserted: (3) the monetary compensation and other benefits that the World Bank provides to the individuals identified under paragraph (2).

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   Original wording

   At the appropriate place, insert the following:

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As printed