Tag: Development Finance

 

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CGD’s US Development Policy Initiative (DPI) has assembled five proposals to do foreign assistance better, drawing on both new and long-standing work and analysis from the Center. We believe there should be a shift in mindset to embrace “doing better” in a way that can be applied in times of budget-cutting or even budget expansion. The ideas we promote here offer ways in which our aid enterprise can pursue qualitative improvement alongside budgetary savings.

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The lack of well-defined core priorities has enabled structural fragmentation across the more than 20 agencies that together constitute the US development architecture, making resource optimization and policy coordination nearly impossible.

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Since 1971, the Overseas Private Investment Corporation (OPIC) has served as the US government’s development finance institution. OPIC works to mobilize private capital to address development challenges while advancing US foreign policy priorities—furthering strategic, development, economic, and political objectives. OPIC aims to catalyze investment abroad through loans, guarantees, and insurance, which enable OPIC to complement rather than compete with the private sector. The independent agency also plays a key role in helping US investors gain a foothold in emerging markets and is barred from supporting projects that could have a negative impact on the US economy.

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An energizing development for IMF staff working on sub-Saharan Africa (SSA) over the past decade was the region's clear growth uptick and progress in reducing poverty relative to earlier periods. A number of African countries graduated to lower middle-income country (MIC) status and became "frontier economies." This was the essence of the “Africa Rising” story. But since my time at the Fund, I have pondered whether the IMF has fully adjusted to the evolving financing needs of these countries. I think it’s fair to conclude that this adjustment is a work in progress and that SSA frontier countries can themselves do more to accelerate it.

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Private sector development has long been viewed as essential for economic growth in developing countries, and the US role in promoting it has focused mostly on how developing country governments could best set a policy environment that made it possible. But let’s consider the risks of concentrating too heavily on the private sector. What could go wrong with an agenda that is centered on “deal making for development”?

Development Finance Institutions "a Proven Theory of Change" – Podcast with Heads of OPIC and CDC

Blog Post

OPIC and CDC are among the largest bilateral development finance institutions (DFIs). They are designed to use their funds to attract more private capital into developing markets through, for example, lending or insuring projects against political risk. CEOs Elizabeth Littlefield and Diana Noble discuss why the DFIs' business model is successful and how their institutions can do more. 

$50 Billion and Three Lessons from Development Finance CEOs

Blog Post

Last week, AEI, CSIS, and CGD hosted a terrific forum with the heads of the British, German, Norwegian, and American development finance institutions (DFIs). It was billed as “$50 billion in one room,” a reference to the vast amounts of capital that these organizations bring to the table for development. Here’s what I took away from the session.

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On July 7, CGD chief operating officer and senior fellow Todd Moss testified before the Senate Foreign Relations Committee at a hearing titled “An Assessment of US Economic Assistance.”

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