The United States needs a bigger and better development finance institution. The Overseas Private Investment Corporation (OPIC) is an overperforming federal agency, but is currently far too small and outdated to fulfill its mandate of catalyzing private investment in strategic emerging and frontier markets. We’ve been pushing for years to modernize US development finance, while the timing for a new agency is ideal right now. The bipartisan BUILD Act creating a new US International Development Finance Corporation (USIDFC) was introduced in both houses a few months back and the administration has signaled support.
CGD Policy Blogs
When it comes to measuring development impacts, nothing beats forests. With ever-improving satellite monitoring technology, measuring global forest cover is each year easier, cheaper, and more accurate. Which means that—whatever you want to call it (pay for performance, results-based aid)—rewarding tropical forest countries for preserving their forests, and for their climate and development benefits, is becoming easier and more accurate.
It’s been ten years since climate change negotiators agreed to incorporate REDD+ into the process of slowing global warming. Starting today, the Norwegian government is hosting the Oslo Tropical Forest Forum to look at the results and remaining challenges of this broad effort.
Sitting here in Washington, DC, it’s hard to be optimistic this World Refugee Day. To better understand the trends and consequences of US policy against the backdrop of increasing need, we convened a panel as part of the launch of CGD’s migration, displacement and humanitarian policy program.
On World Refugee Day, we recognise the plight of the 25 million people who have been forced to flee their countries, to stand with them in solidarity and to appreciate the benefits that they have brought, or can bring to many economies. There are numerous studies that demonstrate the various economic benefits that accepting refugees can bring, and one of the most important from the receiving government’s point of view is the potential for refugees to become net fiscal contributors.
As the debate on family separation and US immigration policy continues, Michael Clemens and Kate Gough pose a key question: why are so many children and families migrating?
Last week, CGD hosted the US Agency for International Development (USAID) for the first public presentation of the agency’s new “Journey to Self-Reliance” metrics. Launched by USAID Administrator Mark Green, the Journey to Self-Reliance is a new strategic approach that aims to more systematically orient the agency’s programming toward building countries’ capacity to address their own development challenges.
It’s crunch time for the Global Compact for Migration. There has been progress. But greater advance on dialogue can mean greater deadlock on content. Several challenges now face the co-facilitators—Mexico and Switzerland—in charge of drafting the text. They echo the challenges from the start of negotiations earlier this year.
After weeks of speculation, the European Commission has published the details of its proposed radical reconfiguration of EU external actions instruments for the 2021-2027 Multiannual Financial Framework (MFF). Digging into the details, while value-add is the mantra, what’s missing is a distinctive EU development offer. And while flexibility is key in an increasingly turbulent and uncertain world, it needs to be deployed using clear guidelines and balanced by accountability.
Many Refugees in Developing Countries Are Located near Urban Job Opportunities—but Most Are Not Allowed to Work
We estimate that there are between 915,087 and 2,186,829 working-age refugees in major urban areas in developing nations—constituting a potential hiring pipeline for many multinational, regional, and local businesses.