Ideas to Action:

Independent research for global prosperity

CGD Policy Blogs

Current search

 
The US capitol building

How Congress Is Turning DFC into an Agency Serving Poland and Israel but not Senegal or Ghana

The US International Development Finance Corporation (DFC) is the $60 billion agency that’s supposed to catalyze investment to capital-starved countries, bolster job-creation in emerging markets, and support US foreign policy. The BUILD Act which created the DFC was a bipartisan bill, carefully crafted to overcome long-standing objections from both liberals and conservatives to its beleaguered predecessor agency.  Recent actions from the Hill and the White House, each one arguably unobjectionable on its own, all add up to a highly worrying erosion of the DFC’s mandate—that threaten both the political bargain that sustains the agency and US strategic goals across Africa.

An image of a fossil fuel refinery

The Biden Administration May Join the European Union in a Ban on Financing Fossil Fuels with Development Dollars. Poor Countries Must Be Exempt.

Since taking office, the Biden Administration has taken several steps to address the climate crisis and plans to do more on the international stage. This trend will be in line with an earlier move by the European Union to “stop funding oil, gas, and coal projects at the end of 2021, cutting €2bn (£1.7bn) of yearly investments.” But a blanket ban on fossil fuels is likely to stifle economic growth and make poor populations in Africa even more vulnerable to the impacts of climate change.

COVID vaccines on a table

A Moral Failure in Pandemic Response

As the virus spread and shut down life as we know it, global response became increasingly tainted by provincialism. From seizing masks and medical supplies en route to other countries to preventing vaccine exports, the world’s richest countries turned inward and neglected the global response effort. It is not too late to correct what has been an egregious failure in leadership.

A map of Africa inside EU stars

The EU Migration Pact: Building a True Partnership with Africa

The current state of migration cooperation between Africa and Europe is far from this ideal. True partnerships should focus on promoting economic opportunity in countries of origin and expanding legal pathways, both from Africa to Europe and within the continent. Currently, African governments are left responding to Europe’s short-term thinking without collaboration towards long-term mutual gain—a scenario that undermines the potential for joint initiatives that can benefit both Africa and the EU.

Pages