DFIs are well positioned to address five pressure points in the COVID-19 response that need financing. Let’s unpack these one by one.
CGD Policy Blogs
Revisiting HIPC as Part of the COVID-19 Response: How did Commercial Debt Relief for Poorest Countries Work Last Time?
The G20 is calling on commercial creditors to follow their lead and extend a moratorium on their debt. But if past is precedent external commercial debt could be shaping up to be major fault line in the debt relief process moving forward.
It is often said that governments “fight the last war” during times of economic crisis. But based on David Malpass’ remarks from last week’s G20 Finance Ministers call, it appears the World Bank is preparing to fight the wars of the 1990s by revamping old—and largely discredited—crisis policy prescriptions to address what is likely to be a severe economic downturn caused by the COVID-19 pandemic.
In retrospect, the scale up in MDB financing during the 2008-2010 crisis, though significant, now looks conservative as we consider the potential scale of damage from the current COVID-19 pandemic. To put the question bluntly, if the human and economic devastation follows a worst-case scenario, just how much could the MDBs do to respond? We attempt to answer that question by assessing the legal, rather than prudential, constraints on MDB lending.
DFC Has Its First Chief Development Officer: Why This is Adam Boehler’s Most Consequential Appointment
Last week, the DFC board formally approved Andy Herscowitz (appointed by DFC CEO Adam Boehler with the support of USAID’s Mark Green) as the agency’s first Chief Development Officer (CDO). Herscowitz is a familiar face for the international development community, having served as the Power Africa Coordinator since its inception in 2013.
The new US International Development Finance Corporation has opened its doors! And with that, CGD is launching the “DFI Dashboard”—an interactive tool for comparing the lending practices and policy frameworks of DFC and eight other development finance institutions.
Prompted by the end of 2019—and the imminent launch of the US Development Finance Corporation—this edition of CGD’s DFC Monitor looks back at OPIC’s last five years of lending to identify lessons for its successor.
Adam Boehler was confirmed by the US Senate as the first CEO of DFC in September and will take the helm of the new agency when it launches in the coming weeks. In this edition of the USDFC Monitor we ask him about his plans for the new agency.
Why isn’t the African Development Bank Group bigger? Clemence Landers and Nancy Lee have a proposal to reform the bank and increase its size and impact.
USDFC Monitor: Three Things We Hope to Hear from Adam Boehler, the White House’s Nominee to Lead the DFC
President Trump’s pick to lead the new US International Development Finance Corporation (DFC), Adam Boehler, is slated to appear before the Senate Foreign Relations Committee tomorrow. The nomination hearing is an important step toward Senate-confirmed leadership for the new agency, which is scheduled to open its doors October 1.