DFC-005 - Supporting Statement

DFC-005
[OMB-3015-XXX]
Personal Financial Statement
SUPPORTING STATEMENT FOR APPROVAL
A.

Justification

1.

Legal authority for this information collection is found in the Better Utilization of
Investments Leading to Development Act of 2018 (the “BUILD Act”), Public Law 115254.

2.

The personal financial statement is considered supporting documentation to the U.S.
International Development Finance Corporation (“DFC”) Application for Debt Financing
(DFC-001), but it is only requested if a sponsor of the project being financed is an
individual (rather than a corporate entity) and that individual is providing equity investment
in or other credit support to the project. Agency officers generally do not request that
individual project sponsors provide personal financial statement information until the
officers have already reviewed the application for financing and determined that the
application has a high probability of advancing to the underwriting phase.

3.

This form is provided in a fillable PDF format that the user may complete and return to
DFC via physical transmission or secure electronic transmission. Because of the form’s
limited usage, it is not considered cost effective to add it to the agency’s suite of on-line
forms.

4.

The information to be collected is not duplicated elsewhere. The information is not already
available in any other electronic form and would not be requested by another federal
agency or lending institution since it is applicable solely to DFC’s finance program.

5.

The sponsors of DFC-supported projects who may complete this form represent a wide
range of nationalities and socioeconomic backgrounds. The same questions are asked of all
respondents. The complexity of the answers will depend upon the financial circumstances
of the individual respondent. Significant efforts have been made to make the questions
clear and efficient, reducing the burden on the respondent.

6.

Without this information, DFC would not be able to fully evaluate the ability of individual
project sponsors to meet their equity contribution and project guaranty obligations. This
form provides for more in-depth analysis than a standard credit report, and in any case,
many potential sponsors of DFC projects are from jurisdictions where a personal credit
report is not available.

7.

No special circumstances exist that require the information collection to be conducted in a
manner inconsistent with the guidelines of the Paperwork Reduction Act and OMB's
implementing regulations.

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8.

The first Federal Register Notice was published on March 22, 2019 (84 FR 10843). The
agency did not receive any public comments. The second Federal Register Notice was
published on June 21, 2019, (84 FR 29249).

9.

No payments and gifts are offered to respondents.

10. When trade secrets or confidential commercial or financial information are submitted to the
agency in this collection, they will be held in confidence to the extent permitted by
applicable law including the Freedom of Information Act (“FOIA”) at 5 U.S.C. section
552(b)(4) and the agency’s implementing regulations at 22 C.F.R. Part 706. Personal
information belonging to an individual will not be released under the FOIA unless the
information is already public or if the public interest is greater than the private interest
under 5 U.S.C. section 552(b)(6).
11.

Not applicable. None of the questions on this form are of a sensitive nature.

12. The estimated burden of collecting this information is as follows:
75 respondents per year
x (1 per respondent)
=75 total annual responses
x (1 hour per average respondent)
=75 respondent hours
x ($75/hour for personnel, record-keeping, overhead)
$5,625 total cost to respondents
Respondents only complete the form once per request for financing.
13. The estimated annualized cost to respondents is as follows:
(a) Total capital and start-up costs: $0
(b) Total operation and maintenance costs: $0.
All costs associated with the form are part of the normal cost of doing business. Since all
submissions will be electronic and stored on DFC’s secure servers, there will be no postage
or storage costs.
14.

The estimated annualized cost to the Federal government is 75 responses x 1 hour. Using
an average cost of $56.15 (a GS-14/1 DCB) to review these applications, the total cost to
the Federal government is estimated to be $4,211.25 (75 x 1.0 x $56.15).

15. This is a new information collection.
16. Not applicable. Information provided in the form will not be published or made public in
any way.
17.

Not applicable. The OMB expiration date will be printed on each form.

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18.

Not applicable. No exceptions are being requested on the certification statement.

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