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Interior view of World Bank HQ

Reforming World Bank Aid to the Private Sector for Greater Competition and Transparency

Chairwoman of the US House Committee on Financial Services Maxine Waters' recent intervention provides an opportunity for the Bank Group to rethink the Private Sector Window to better align with the International Finance Corporation’s 3.0 reform process, which was designed to increase the Corporation’s development impact, move toward making markets, and improve standards. At the same time, reform could allow the PSW to live up to the Multilateral Development Bank Principles to support sustainable private sector operations.

The World Bank Group's headquarters

Congress Spotlights the World Bank’s Private Sector Subsidies

Yesterday, the House Committee on Financial Services held a hearing with US Secretary of the Treasury Stephen Mnuchin on the international financial system. Chairwoman Maxine Waters opened the session with a strong statement on the World Bank’s $2.5 billion IDA Private Sector Window (PSW). Chairwoman Waters raises important concerns with the Private Sector Window that should be urgently addressed.

African Union police officers on patrol in Mogadishu. Photo by Stuart Price / AU UN Photo

A Promising US Fragile States Strategy is Taking Shape, but Key Questions Remain

Earlier this month, bipartisan coalitions in the House and Senate introduced legislation to improve the coordination of US government efforts to tackle the root causes of state fragility and violent extremism. If the bills advance, the House and Senate will need to reconcile a few key differences, related to funding levels; which funds to establish; and how to select focus countries, among other things. There are also some bigger picture questions that Congress and the implementing agencies will need to grapple with as the legislation (hopefully) moves forward.

USDFC Monitor Logo

Introducing the USDFC Monitor: A Q&A with OPIC's David Bohigian

CGD is pleased to introduce USDFC Monitor, a platform for information, reasoned analysis, practical recommendations, and evidence-based discussion of important issues that will face the United States’ new full-service development finance institution. Drawing inspiration from a similar endeavor launched by CGD to track and inform the early days of the Millennium Challenge Corporation, you can expect USDFC Monitor to provide a mix of timely commentary and in-depth analysis. 

To kick off, we posed three big questions to David Bohigian, Acting President and CEO of the Overseas Private Investment Corporation, about his expectations for the new agency.

A table showing the change in PEPFAR funding across different budget requests and budgets

With Budget Cuts Looming Again, Can PEPFAR Keep the Gas on its Acceleration Strategy?

PEPFAR has long enjoyed bipartisan support on the Hill. Yet, it has not been spared from significant cuts in President Trump’s latest budget request for foreign aid. It is noteworthy that this administration’s three successive budget requests have proposed increasingly large cuts to PEPFAR’s funding. If past is prelude, a cut of this magnitude is unlikely to materialize in any final spending bill.

FY20 Budget Request: Humanitarian Funding

Trump’s Foreign Assistance Budget Request, in 3 Charts

President Trump’s FY2020 budget request landed with a thud on Capitol Hill Monday. Once again, the administration is proposing deep cuts to the international affairs budget and, once again, members of Congress on both sides of the aisle have pledged to reject the proposed reductions in US development and diplomacy spending.

A woman working at a stall in Accra, Ghana. Photo by Jonathan Torgovnik/Getty Images Reportage, via imagesofempowerment.org

Leveraging American Enterprise to Deliver Women’s Global Development and Prosperity

Today, the Trump administration rolled out the Women’s Global Development and Prosperity Initiative (W-GDP). Pillars one and two seem to suggest a rebranding of existing funding for women’s economic empowerment efforts in USAID and a repackaging of previously announced initiatives at the World Bank and Overseas Private Investment Corporation. But the third pillar is potentially more encouraging.

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