The Investment Climate Facility (ICF) for Africa was launched in June to help Africa tackle problems that hinder domestic and foreign investment. It aims to raise $550 million for promotion of property rights and financial markets, anti-corruption efforts, and reform of regulations, taxation, and customs. In this CGD Note, senior fellow Todd Moss lists the strengths of the proposal and asks tough questions, including: What exactly will the money be spent on? Why no independent evaluation? He concludes that the U.S. should support the facility--if convincing answers are forthcoming. Learn more
Development refers to improvements in the conditions of people’s lives, such as health, education, and income. It occurs at different rates in different countries. The U.S. underwent its own version of development since the time it became an independent nation in 1776.Learn more about Rich World, Poor World: A Guide to Global Development
In this new CGD working paper John Nellis takes stock of fifteen years of privatization in developing and post-communist countries. He finds that a surprisingly large amount of assets remain in state hands. And while technical assessments of the impact of privatization are often positive, public opinion tends to be highly critical. The paper ends with suggestions for creating incentives for privatization that better serve public needs.