CGD in the News

With World Bank Initiative, a Change in Tone for Trump Administration (New York Times)

July 19, 2017
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From the article:

A billion-dollar World Bank initiative to advance women’s entrepreneurship, funded in part by Saudi Arabia and championed by Ivanka Trump, might seem a laughably easy target for reproach.

There is Saudi Arabia’s treatment of women — they aren’t even allowed to drive alone — and the growing role of the “first daughter” as a presidential adviser. Then there are President Trump’s misogynistic comments.

But despite the concerns around governance and ethics, the so-called Ivanka fund might be a sign that — despite its “America First” policy — the White House is not as combative toward multilateral institutions like the World Bank and the International Monetary Fund as many in Washington expected.

“The fact that they were going to the World Bank to begin with shows that they are not completely hostile to the institutions, and it points to more of an open door,” said Scott Morris, a senior fellow at the Center for Global Development, who served as deputy assistant secretary for development finance and debt at the Treasury Department under President Barack Obama.

“Not just on this one trust fund but the broader relationship is on pretty good footing going forward.”

Read full article here.