At a glance, it would seem that if you want to tackle climate finance, you ought to look to institutions with “climate” in the name. Yet, whatever the longer-term potential of the Green Climate Fund (GCF), the reality is that it has committed just $10 billion and disbursed a meager $1.7 billion in climate financing since it commenced operations in 2015. Of these total commitments, just $2.5 billion have gone toward adaption, suggesting that actual disbursement of adaption funds number in the low hundreds of millions.
CGD Policy Blogs
After buying up the World’s vaccine supply to ensure they can protect their own populations, rich countries have found themselves struggling to use the vaccine surpluses they accumulated. One response has been to donate the spare doses to countries who need them more. This is laudable, and countries who have done so want to receive credit for such actions in their aid statistics—what is known as Official Development Assistance (ODA).
CGD’s Mikaela Gavas joins Gyude to discuss barriers to private investment in health and infrastructure projects and how a new initiative—an Accelerator Hub—could help local businesses and institutions in Africa develop financially viable proposals and connect them with investors.
Anyone who follows the media on development finance will not be surprised if the corridor talk at the upcoming Annual Meetings of the World Bank and International Monetary Fund (IMF) is affected by the recent World Bank decision to discontinue the Doing Business Index. These discussions will invariably include the implications for data management and integrity at the Bank as well as spillovers questions regarding the leadership at both institutions.
If the World Bank Wants to Move On from the Doing Business Scandal, It Should Take a Look at AidData
Today’s release of a new dataset of over 13,000 Chinese-financed projects in developing countries marks a major contribution to our understanding of China’s role as a lender to the developing world, as well as the ways in which these projects are increasingly structured to avoid accounting for direct liabilities on public balance sheets. At a moment of high debt vulnerability in the developing world, both contributions ought to prove valuable to policymakers in rich and poor countries alike as they seek to work through these problems.
Through its European Investment Advisory Hub, the European Union (EU) has built solid experience in project preparation within its own borders by connecting project promoters and intermediaries with advisory partners who work directly together to help projects reach the financing stage. Building on this approach, we propose the establishment of an Accelerator Hub, which would provide targeted support to identify, prepare, and develop investment projects in Africa.
CGD's Mark Plant and University of Oxford's Adrienne Cheasty, formerly of the IMF, discuss how SDRs work, what the IMF's new allocation means, and what needs to happen to ensure its effectiveness.
Mexico followed, in past years, what appeared to be a textbook formula for expanding access to and use of digital financial services for its citizens. And yet, less than half of its adult population reported having a bank account only two years ago, which is lower than the Latin American average of 55.1 percent, and significantly below the upper-middle-income country average of 73.1.
India’s efforts to expand financial inclusion by leveraging digital technologies have been much publicized and lauded, both within India and internationally. But how effective have they actually been in expanding the usage of digital financial services across India’s huge population? And what is constraining their further growth?
How to Strengthen the Role of Pan-African Institutions Within the International Financial Architecture
In a recent joint piece, African and European leaders underscored the importance of strengthening the positions and roles of pan-African institutions within a new international financial architecture, reaffirming one of the four key goals of the summit on financing African economies held last May in Paris. What is the new international financial architecture? Which pan-African institutions are targeted and why should their role and positions be strengthened within it? How should Africa and its partners proceed to achieve this goal?