Finance

What would it look like today if major multilateral finance institutions like the World Bank had never adopted the climate agenda as a binding constraint on their operations? Unfortunately, we have a real-world approximation of that hypothetical in the form of Chinese development finance. At least, ...

“IFC 3.0” is a welcome and important initiative for a development finance institution that in the past has been accused of putting profits before impact. But the IDA PSW instrument is a throwback to the old IFC—opaque as well as inefficiently targeted on development results. Design...

The formidable challenge of financing the Sustainable Development Goals has focused attention on the role of private capital in filling huge finance gaps. But for low-income countries (LICs), which receive only about 5 percent of total cross-border private capital flows to developing countries, ther...