Us foreign aid transparency

Economy
1

Policy on Foreign Aid Transparency

Purpose

This policy mandates all foreign aid be categorized as either grants or loans. Both shall utilize both unclassified and classified blockchain financial systems as necessary to ensure comprehensive tracking of funds from allocation to execution. The objective is to enhance transparency, accountability, and auditability in the management of foreign aid.

Definitions

  • Grant: Aid provided by the U.S. government to a foreign entity for a specific purpose, which does not require repayment. Grants are typically awarded to promote social, economic, or developmental goals. Grants may be financial, equipment, arms, technology or personnel support as needed. All grants shall specifically document the agreement and become part of the official congressional records.

  • Loan: Financial aid provided by the U.S. government to a foreign entity that requires repayment, often under specified terms and conditions. Loans are generally extended to support economic development and infrastructure projects. Any collateral or liens agreed upon shall be disclosed, made part of such agreement and become part of the official congressional records.

Policy Statement

  1. Categorization of Foreign Aid:

    • All foreign aid provided by the United States will be classified as either grants or loans.

  2. Blockchain Financial System Requirement:

    • Recipients of foreign aid are required to implement blockchain financial and inventory systems for both unclassified and classified operations.
    • The blockchain systems must track the flow of funds and resources from allocation to final expenditure, ensuring a transparent “cradle to grave” overview of financial transactions.

  3. Data Sharing with the United States:

    • Recipients must provide the U.S. government with access to copies of the relevant blockchain records.
    • This includes real-time data on transaction histories, fund allocations, and final outcomes associated with the aid received.

  4. Unclassified and Classified Blockchain Tracking:

    • All foreign aid must be tracked using an unclassified blockchain to facilitate public transparency regarding the allocation and use of funds.
    • Where appropriate, classified blockchain systems may be utilized to secure sensitive information related to national security or other classified operations.

  5. Oversight and Compliance:

    • The Office of Management and Budget (OMB) and the Department of the Treasury will oversee the implementation and adherence to this policy.
    • Regular audits will be conducted to ensure compliance with blockchain tracking and data sharing requirements.

Implementation Steps

  • Collaborate with relevant federal agencies to define the technical specifications for the blockchain systems.
  • Establish guidelines for data sharing protocols and access controls to maintain the integrity of sensitive information.
  • Provide training and resources for stakeholders on the utilization of blockchain technology in managing foreign aid.

Conclusion

By mandating the use of blockchain financial systems for tracking foreign aid, this policy aims to enhance accountability and restore public trust in the management of U.S. financial assistance abroad.

See also. Implement BlockChain Finance System

1 Like
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How can we aid anyone with our money if we are deep in the debt-hole ourselves? Especially when we “aid” a country that is way better financially than the U.S.

Stop ALL “foreign aid” till the moment we have no national debt and THEN do it transparently.

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AGREE with this