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In timely and incisive analysis, our experts parse the latest development news and devise practical solutions to new and emerging challenges. Our events convene the top thinkers and doers in global development.
Erin Collinson is director of Policy Outreach at CGD. Prior to joining the CGD staff, she spent over five years working in the US Senate. Originally from the Chicago area, Collinson holds a Master of Development Practice degree from the University of Minnesota and a BA in Environmental Policy from Denison University.
Established in 2004, the Millennium Challenge Corporation (MCC) was designed with a singular mission: toreduce poverty through economic growth. The agency’s approach reflects key principles of aid effectiveness, in particular, country selectivity, focus on results, and emphasis on local ownership.
Since 1971, the Overseas Private Investment Corporation (OPIC) has served as the US government’s development finance institution. OPIC works to mobilize private capital to address development challenges while advancing US foreign policy priorities—furthering strategic, development, economic, and political objectives. OPIC aims to catalyze investment abroad through loans, guarantees, and insurance, which enable OPIC to complement rather than compete with the private sector. The independent agency also plays a key role in helping US investors gain a foothold in emerging markets and is barred from supporting projects that could have a negative impact on the US economy.
While we don’t often blog congressional hearings, yesterday’s discussion of “The Budget, Diplomacy, and Development” in the House Foreign Affairs Committee struck us as especially important given the uncertainty facing the foreign assistance budget: the level of consensus in acknowledging that deep cuts to the international affairs budget would be unwise and undermine US interests felt remarkable.
The Trump Administration’s skinny budget is a bit of a public relations exercise in trying to have it both ways on the 150 Account, as observed by our colleague Scott Morris. We’re going to cut dramatically to “prioritize” Americans, but wait, it’s really just a minor reform and rightsizing to get rid of some duplications!
The US Agency for International Development (USAID) is the lead US development agency, managing roughly $20 billion in annual appropriations. The agency operates in over 120 countries, including the world’s poorest and most fragile. Its work spans a wide range of sectors, supporting humanitarian relief, economic growth, health, education, and more. USAID’s broad remit reflects the agency’s mission: “We partner to end extreme poverty and promote resilient, democratic societies while advancing our security and prosperity."
Treasury’s Office of International Affairs works with other federal agencies, foreign governments, and international financial institutions to strengthen the global economy and foster economic stability. The United States’ international engagement through Treasury supports our national economic and security interests by promoting strong economic governance abroad and bolstering financial sector stability in developing countries. Through Treasury, the United States exercises leadership in international financial institutions where it shapes the global economic and development agenda and leverages US government investments, while tackling poverty and other challenges around the world.
State Department guidance underscores the importance of its work in furthering development: “The surest path to creating more prosperous societies requires indigenous political will; responsive, effective, accountable, and transparent governance; and broad-based, inclusive economic growth. Without this enabling environment, sustained development progress often remains out of reach.”
President Trump and many congressional Republicans have made no secret of their strong interest in dismantling “Dodd-Frank,” a law signed in the wake of the 2008 financial crisis to strengthen regulation of the financial industry in the United States. But it’s a small, seemingly peripheral, transparency provision focused on developing countries that’s poised to be one of the law’s earliest casualties. Congress quietly voted last week to torpedo implementation of a rule that would require U.S. firms to disclose payments made to foreign governments for the commercial development of oil, natural gas, or minerals.
Ambassador Mark Green—President Trump’s pick to lead the US Agency for International Development (USAID)—is slated to appear before the Senate Foreign Relations Committee for his nomination hearing on Thursday morning. Drawing on themes of efficiency, effectiveness, accountability, and results, here are a few questions we’d pose to Ambassador Green (and a few of the things we’d love to hear in response).
In recent months, USAID has been working diligently to craft its approach to “strategic transitions,” framing the principles it will follow, the benchmarks that will help inform transition decisions, and the programs and tools it can bring to bear. This Thursday, in a public discussion with the agency’s Advisory Committee on Voluntary Foreign Aid (ACVFA), USAID will outline its initial thinking about strategic transitions. Our recent paper, Working Itself Out of a Job: USAID and Smart Strategic Transitions, offers some advice to the agency as it charts the course ahead. Here are the main takeaways.
Policy wonks usually bemoan the lack of a functional budget and appropriations process. This year, however, CGD’s policy outreach team is (reluctantly) crossing its fingers for a continuing resolution—an outcome that seems increasingly likely with only eight legislative weeks before the end of the fiscal year.
The very same week that USAID and the Department of State submitted a joint redesign plan to the Office of Management and Budget, the coauthors of four recent reform proposals packed the CGD stage for a timely debate. Fragmentation, inclusive economic growth, humanitarian assistance and fragile states, global health, and country graduation were a few of the big questions that panel members grappled with as they authored their reports.