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.
CGD Policy Blogs
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.
Why Is the White House Scuttling its Biggest Development Win? Four Hidden Daggers Pointed at the Heart of the New USDFC
The BUILD Act is a remarkable bipartisan effort to modernize the US development finance toolkit. So why is the White House gutting the most important features of the new agency?
The U.S. Administration announced Saturday that it has halted all aid to El Salvador, Guatemala, and Honduras—known as the Northern Triangle. Here’s what this decision to halt aid could mean, according to data and evidence.
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.
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.
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.
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.
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.
The President Has Mostly Wiped out US Refugee Resettlement. Other Countries Aren’t Picking up the Slack.
The Trump administration has drastically cut US refugee admissions—effectively eliminating nearly half of the world’s total resettlement spots. New data analysis from Michael Clemens explores the implications of these policies.