Elizabeth Littlefield, President and CEO of the Overseas Private Investment Corporation, sits down with me to discuss the agency's success in leading the transition from aid to private finance (despite its modest size), as well as what it has in store for the remainder of the Obama presidency.
CGD Policy Blogs
Meeting the SDG targets for infrastructure in developing countries is going to cost around USD 1 trillion a year. With official development assistance at around $150 billion, other official flows at $27 billion, and investment in infrastructure with private involvement at about $181 billion, it is clear that the majority of infrastructure finance will have to come from domestic resource mobilization in developing countries (which comes to about $9.2 trillion per year).
In an earlier blog post, we explained why we think that donors and development finance institutions are getting it wrong by issuing guarantees and cheap loans to the private sector. We argue they should instead be increasing the returns for firms when they succeed. Today, a former CGD Visiting Fellow, John Simon, disagrees.
We are enthusiastic about the growing interest in supporting private investment in developing countries, but it matters a lot how this is done. The sorry history of failed and distortionary partnerships should tell us something about how donor countries can do a better job of working with the private sector.
Kingsley Moghalu, former Deputy Governor of the Central Bank of Nigeria, believes that Africa’s development potential lies in the hands of Africans themselves and that underdevelopment is due to the lack of a suitably ambitious worldview.
The Government of Egypt launches its much-touted Egypt Economic Development Conference in Sharm El Sheikh this week, and has pulled out all the stops to lure foreign investors.
This is a joint post with Prashant Yadav, University of Michigan
The most valuable currency in global health programs today is accurate and reliable data, but such data—abundant in rich countries—does not exist for most low-income and lower-middle-income countries.