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Even to an outsider unskilled at parsing the practical import of switching from ‘commit’ to ‘endeavor’ in a non-binding declaration, the latest draft of the Addis Financing for Development text looks very different from the zero draft. The overall shift appears to have been away from making solid commitments, especially with numbers attached. In some cases, that’s a good thing. But it does leave the text looking closer to a vegetarian brunch –lo
In an earlier blog post, we explained why we think that donors and development finance institutions are getting it wrong by issuing guarantees and cheap loans to the private sector. We argue they should instead be increasing the returns for firms when they succeed. Today, a former CGD Visiting Fellow, John Simon, disagrees.
We are enthusiastic about the growing interest in supporting private investment in developing countries, but it matters a lot how this is done. The sorry history of failed and distortionary partnerships should tell us something about how donor countries can do a better job of working with the private sector.
Despite the growing prominence of global challenges, such as climate change, cross-border health threats, security risks, and financial crises, most development-oriented funds are spent on individual programs in single countries.
This is one of a series of CGD blogs on tweaks to the SDG targets.
Target 8.1 calls for rapid per capita economic growth. As this is a vital element of sustained progress on development, it is absolutely right that a comprehensive set of development goals include a growth target.
In testimony last week before the Senate Foreign Relations Subcommittee on Africa and Global Health Policy, CGD’s Ben Leo called upon Congress to modernize how the United States supports economic growth in sub-Saharan Africa. The hearing was called to reflect on the progress since the August 2014 US-Africa Leaders Summit in Washington and to address obstacles that continue to discourage greater private-sector engagement in the region.