In the biggest step forward in US development policy since the creation of the Millennium Challenge Corporation and PEPFAR, Congress approved legislation to establish a new, modernized US development finance agency.
CGD Policy Blogs
Sarah Bermeo, political economist and author of Targeted Development: Industrialized Country Strategy in a Globalizing World, on how rich countries’ motivations for development have evolved, what they mean for developing countries, and where we are now.
Last week, Congress completed work on a spending package that funds the federal government through the remainder of the fiscal year. As far as development and diplomacy are concerned, the bill is an unmistakable rejection of the deep cuts proposed by the Trump administration. Here are a few standouts from CGD’s most-watched list.
Demand for development finance as a key complement to traditional aid is growing, but despite the impressive strength of the US private sector, the US government’s ability to respond—to date— has fallen short. The good news: Congress got the memo.
The Trump administration delivered its FY 2019 budget request to Capitol Hill this week. Containing deep cuts to the international affairs budget, it looks a lot like a repeat of the FY 2018 request. And with a 30 percent reduction in topline spending, few programs were spared. Meanwhile, buried among the rubble are smart reform ideas that run the risk of being overshadowed—or even undermined—by the depth of the proposed spending reductions.