Ideas to Action:

Independent research for global prosperity

Views from the Center

CGD experts offer ideas and analysis to improve international development policy. Also check out our Global Health blog and US Development Policy blog.

 
An image of foreign currency.

Forging an MDB System: The Missing Piece in the Governance Architecture

Few would argue that collaboration and collective efforts across the multilateral development banks (MDBs) are not urgently needed. Yet while the logic and need are obvious, the actual extent of collaboration between MDBs is limited. Our recent paper explores how this gap in the international financial architecture might usefully be filled. It addresses what a new cross-MDB governing body might do and what it might look like.

A road construction project in Sri Lanka. Photo by Deshan Tennekoon/World Bank

In the Secretive World of Government-to-Government Lending, 100 Chinese Debt Contracts Offer a Trove of New Information

Is Chinese financing good for developing countries? Taking stock of China’s lending activities has long been hindered by the lack of publicly available data on dimensions like loan volumes and interest rates, let alone more esoteric features like loan collateral or default contingencies. A pathbreaking new study by researchers at AidData at William & Mary, the Kiel Institute for the World Economy, the Peterson Institute for International Economics, Georgetown Law School, and the Center for Global Development changes that.

An image of a fossil fuel refinery

The Biden Administration May Join the European Union in a Ban on Financing Fossil Fuels with Development Dollars. Poor Countries Must Be Exempt.

Since taking office, the Biden Administration has taken several steps to address the climate crisis and plans to do more on the international stage. This trend will be in line with an earlier move by the European Union to “stop funding oil, gas, and coal projects at the end of 2021, cutting €2bn (£1.7bn) of yearly investments.” But a blanket ban on fossil fuels is likely to stifle economic growth and make poor populations in Africa even more vulnerable to the impacts of climate change.

A traffic jam on the Ojuelegba Under bridge in Lagos, Nigeria

Africa’s Crisis Recovery Requires Upgrading the Global Financial Safety Net

The COVID-19 pandemic has taken a significant toll on African economies. Despite the significant support for COVID-19 response provided by their bilateral and multilateral partners, African countries continue to face significant financing needs to protect lives and livelihood and bolster prospects for a stronger and more resilient economic recovery. In this light, the time for the international community to go big on supporting Africa’s pandemic crisis recovery is now.

Makhtar Diop speaks into a microphone in front of an orange backdrop

An Agenda for Makhtar Diop at the IFC

Makhtar Diop, former minister of finance in Senegal and current vice president for infrastructure at the World Bank, has been tapped to be the next head of the International Finance Corporation, the World Bank Group’s private sector investment arm. This is welcome news: Diop’s experience and talents can help steer IFC towards greater development impact during the COVID-19 pandemic and beyond.

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