The President's Emergency Plan for AIDS Relief (PEPFAR) is the single largest funder of global AIDS relief programs, but it does not regularly release data on how its money is spent. In this report, CGD's HIV/AIDS Monitor Team analyzes a newly available dataset of PEPFAR funding. They find, among other things, that only 30% of funds in 15 focus countries have gone to local organizations. They urge PEPFAR to regularly publish such funding data to improve transparency and strengthen coordination with host country governments and other stakeholders, and they suggest actions PEPFAR should take to improve the effectiveness and sustainability of its programs.

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CGD recently hosted a high-level roundtable discussion on whether and how the World Bank and other multilateral development banks can help jump-start an expanded market for country risk management tools--insurance and other hedging mechanisms--to manage a broad spectrum of risks, ranging from macroeconomic volatility and natural disasters to trade, liquidity, and currency shocks. CGD visiting fellow Nancy Lee, who until recently worked as a deputy assistant secretary in the U.S. Treasury, reports on some unexpected obstacles and offers her views on how the MDBs can best partner with the private sector in this effort.

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