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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.

An image of a colourful African market

Enabling Substantial IMF Lending to Low-Income Countries for the Recovery

As global leaders begin to put together an international financing package to help low-income countries (LICs) recover from the COVID-19 crisis, they are looking to the International Monetary Fund (IMF) to be a critical financial and policy anchor for LIC’s sustainable economic recovery. We propose a five-step plan that ensures sufficient resources are available to meet a high level of demand for new loans over the next few years.

An image of Euros in front of the European flag

The End of the Battle of the European Banks? “Status Quo Plus” Emerges as the Winner

It’s been almost a year and a half since the High-Level Group of Wise Persons published its report, setting out options for consolidating and streamlining the European development finance architecture. That report generated a sparring match between the two European development banks—the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) —as to which was better placed to become the new European Climate and Sustainable Development Bank (ECSDB)

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