Founded in 2002, the Global Fund to Fight AIDS, Tuberculosis and Malaria (the Global Fund) is one of the world’s largest multilateral health funders, disbursing $3–$4 billion a year across 100-plus countries. Many of these countries rely on Global Fund monies to finance their respective disease responses—and for their citizens, the efficient and effective use of Global Fund monies can be the difference between life and death.
The Commitment to Development Index ranks 27 of the richest countries on their dedication to policies that benefit poorer nations. Denmark takes first in 2015. The UK is tied for sixth while the United States is 21st. Japan takes last of 27.
International debates on taxation and development have been informed by a popular narrative that there is a large ‘pot of gold’ for funding which could be released by cracking down on the questionable tax practices of multinational enterprises, and which could bridge the gap towards f
The SkyShares model enables policy-makers to explore a range of different emissions policy scenarios. This paper uses the SkyShares model to explore one such scenario in detail.
A Grand Bargain for Private Investment: Defining Commitments and Implementation under the Progress Pledge
To fully realize the potential of private investment for development impact and articulate commitments under the Progress Pledge, we propose a “grand bargain” between developing countries, donors, and private investors, with mutual commitments and reciprocal benefits.
Finding Cash for Infrastructure in Addis: Blending, Lending and Guarantees in Finance for Development
The total scale of incremental investment requirements in infrastructure in developing countries has been estimated at around USD 1 trillion a year, with a range of related studies suggesting numbers between $815 billion to $1.3 trillion. While all such numbers are open to considerable debate, and were not designed to measure the cost of delivering the specific SDG infrastructure targets, they suggest the likely scale of the financing challenge for an SDG agenda which includes universal coverage to adequate housing, water, sanitation, modern energy and communications technologies.
Statement of the Honorable Clay Lowery Before the U.S. House Subcommittee on International Monetary Policy and Trade
On June 17, 2015, CGD visiting fellow Clay Lowery testified before the U.S.
Enabling Digital Financial Inclusion through Improvements in Competition and Interoperability: What Works and What Doesn't?
The development of mobile payment platforms in developing countries is revolutionizing access to finance for the poor. Mobile payment platforms allow their users to pay and transfer funds in mobile money but also offer access to other financial products, such as savings or insurance.
Whether the poor are helped or hurt by taxes and transfers is generally determined by comparing income distributions before and after fiscal policy using stochastic dominance tests and measures of progressivity and horizontal inequity. We formally show that these tools can fail to capture an important aspect: that a substantial proportion of the poor are made poorer (or non-poor made poor) by the tax and transfer system.
Both academic research and public policy debate around tax havens and offshore finance typically suffer from a lack of definitional consistency. Unsurprisingly then, there is little agreement about which jurisdictions ought to be considered as tax havens—or which policy measures would result in their not being so considered.
Basel III in Chile: Advantages, Disadvantages and Challenges of Implementing the New International Standard for Bank Capital (English and Spanish Versions)
This paper analyzes the relevance, advantages and challenges that the Chilean financial system would face if the new international standard were implemented.
Guarantees, Subsidies, or Paying for Success? Choosing the Right Instrument to Catalyze Private Investment in Developing Countries - Working Paper 402
Governments, donors, and public sector agencies are seeking productive ways to ‘crowd in’ private sector involvement and capital to tackle international development challenges. The financial instruments that are used to create incentives for private sector involvement are typically those that lower an investment’s risk (such as credit guarantees) or those that lower the costs of various inputs (such as concessional loans, which subsidise borrowing).
Last year, the Asian Development Bank (ADB) management proposed a major financial restructuring that would increase the amount of bank capital available for investment. This proposal offers many benefits in and of itself. But it also creates an opening for additional and complementary changes in governance that would greatly strengthen the bank and would ensure all of the benefits of the restructuring are fully captured. The merger proposal represents a highly credible down payment by the ADB on a set of innovations that can greatly expand the institution’s ability to respond to the region’s needs and opportunities—and in the process, stimulate similar dynamics at other MDBs.
Do we still need the World Bank, given how much the global financial sector has expanded since the institution was founded? The paper argues that there is a continuing role for the Bank and that it is complementary to private finance.
This paper examines courses of action that could help the bank could adapt to shifting development priorities. It investigates how country eligibility standards might evolve and how the bank might start to break away from its traditional “loans to countries” model.
On March 19, 2015, senior fellow and director of CGD’s Rethinking US Development Policy Initiative Ben Leo testified before the Senate Foreign Relations Committee Subcommittee on Africa and Global Health Policy at a hearing about the potential for greater US trade and investment with S
Bringing US Development Finance into the 21st Century: Proposal for a Self-Sustaining, Full-Service USDFC
The imperative for US development finance has increased significantly due to a number of factors over the last decade. There is growing demand for private investment and finance from businesses, citizens, and governments in developing countries. Given the scale of challenges and opportunities, especially in promoting infrastructure investments and expanding productive sectors, there is an increasingly recognized need to promote private sector-based solutions.
On a chilly Monday morning on February 16th, 2009, I walked into the New Government Complex in Harare’s Central Avenue. As I strode for the very first time down a poorly lit corridor, eyes strained and necks stretched behind wide open doors to catch a glimpse of the newcomer with a reputation for short temper. I was ushered into a comfortable office that was to become my home for the next four and a half years.