A few months ago, the experts at the OECD who decide what’s in and what’s out when it comes to what counts as official development assistance (ODA) said spending on research towards a Covid vaccine was out. “It contributes to addressing a global challenge and not a disease disproportionately affecting people in developing countries,” they argued.
CGD Policy Blogs
As the possibility of a new Cold War between the US and China gains traction in some foreign policy circles, the scale of Chinese development finance has taken center stage. A closer examination suggests the cost to China of this lending is distinctly underwhelming. It would be cheap for the US and Europe to match China’s lending numbers –and in the interest of global development if it was done right.