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CGD seeks to inform the US government’s approach to international development by bringing evidence to bear on questions of “what works” and proposing reforms to strengthen US foreign assistance tools.
The policies and practices of the US government wield formidable influence on global development. CGD seeks to strengthen US foreign assistance tools with evidence of “what works” and propose reforms grounded in rigorous analysis across the full range of investment, trade, technology and foreign assistance related issues. With high-level US government experience and strong research credentials, our experts are sought out by policymakers for practical ideas to enhance the US’s leading role in promoting progress for all.
In this paper, part of the Innovations in Aid series, Jean-Michel Severino and Olivier Ray describe shifts in the objectives of overseas development assistance (ODA) over time and conclude that it is time to put the concept itself to bed—in favor of what they propose should be called “Global Policy Finance.”