CGD Policy Blogs
The Friends of Syria coalition will meet in Paris on July 6 to discuss how they might stem the escalating violence in Syria. Once again there will be much hand wringing on what to do and a search for new ideas. Owen Barder and I, who have been working with our colleagues at CGD and officials in the U.S.
This is a joint post with Rita Perakis
Last week, CGD and Social Finance launched a new high-level Working Group to consider Development Impact Bonds, a new mechanism to enable private investment in development outcomes. Owen Barder and Rita Perakis explain.
There is nothing new about the idea that development assistance is an investment: spending money today in the hope of future benefits. Putting money into immunizing kids or giving them an education is an excellent investment in the future well-being of those people. But if there are financial returns they are often far in the future and cannot be directly linked back to the investment. For many development investments the returns are mainly social, not financial. And the absence of financial returns on a reasonable timescale could be why there is no market for investing in development. There is a small pool of investors who are willing to be paid in good karma; but most would rather be paid in dollars, sterling or euros.
Last September, UN Secretary General Ban Ki-moon pointed to the nuclear accidents in Chernobyl and Fukushima as proof of the need for transparency in nuclear safety worldwide. In February, his office released a Five-Year Action Agenda for his second term; it calls on the global community to make foreign aid more transparent.
David Gordon and Stephen Krasner, two respected former State Department Policy Planning Directors, have a timely oped in Politico today on Syria policy options. They claim, convincingly, that the current bimodal choice between the (dead?) Kofi Annan plan or (costly & risky) military strikes ignores further squeezing the Assad regime.
On Friday evening, the governors of the European Bank for Reconstruction and Development (EBRD) selected a new president: British civil servant Sir Suma Chakrabarti. The decision is important because the EBRD has recently taken on a major global challenge: assisting the countries of the Arab Spring. It also matters because the selection process raised the bar for open, transparent and merit-based leadership selection at other international institutions, including the World Bank, IMF and the other regional development banks.
On Friday the Governors of the European Bank for Reconstruction and Development (EBRD) will decide who will be the Bank’s next President. Today we are publishing interviews with four of the candidates.