All articles tagged with #development finance
The African Development Fund secured a record $11 billion for its 17th replenishment, marking a shift towards investment-led development with increased African contributions and new financial models to unlock private capital, supporting 37 low-income countries across Africa in sectors like energy, food security, and infrastructure.
The World Bank, the IMF, and other international financial institutions have not done enough to overcome the inequity caused by the compounding crises of climate change, poverty, and hunger. Rich countries have neglected to honor previous commitments, while lower-income countries are swamped by debt and projected to grow much slower than expected. A new consensus has developed around the belief that one of the best hopes for scaling the investments and innovations required to meet today’s crises is to revitalize and augment the development finance system. The system needs to relieve unsustainable debt levels, invest for the future, and expand access to public goods.