29 APR 2024 · IDA, or International Development Association is the world bank’s fund for the poorest countries. IDA provides grants and low-cost loans that countries can use for a variety of needs from health to education to infrastructure. This year it's up for replenishment and so the bank is going to donors to ask for a new influx of capital. In this episode, we speak to Dirk Reinnerman, the Director of the IDA Resource Mobilization and IBRD Corporate Finance at the World Bank, about his pitch to donors in the IDA replenishment, and how it ties to broader bank reforms. We also hear from Garghee Ghosh, the president of global advocacy and policy at the Gates Foundation about what makes IDA unique, and Serah Makka, the Africa Executive director at the ONE Campaign.

26 APR 2024 · Last week we were the media partner at the Global Inclusive Growth Summit hosted by the Mastercard Center for Inclusive Growth. The conference focused on how access to financial services are key to helping drive global development in low- and middle-income countries.  During one of the events, Barbados Prime Minister https://www.devex.com/news/losing-our-moral-compass-mia-mottley-and-amina-mohammed-talk-debt-107498 in order to help low- and middle-income countries overcome health and climate change challenges. We discuss the value of cash transfers for building resilience to crises by providing money to those in need quickly and efficiently, as well as how they can help increase financial inclusion globally.   We also published a story on Grant Assistant, https://www.devex.com/news/ai-ventures-into-grantmaking-and-proposal-writing-may-get-a-lot-easier-107519. From speeding up the process of navigating the paperwork to helping local and smaller organizations access https://www.devex.com/organizations/united-states-agency-for-international-development-usaid-45096 grants, we discuss the tool’s potential impact on the global development sector.  This week, the U.S. Congress passed a bill, which would unlock around $9.2 billion in humanitarian aid. We contemplate https://www.devex.com/news/usaid-has-received-a-multibillion-cash-injection-what-next-107525.  To dig into these stories, Devex Managing Editor Anna Gawel sits down with Yolande Wright, vice president of partnerships at https://www.devex.com/organizations/givedirectly-74448, and Devex Senior Reporter Michael Igoe for the latest episode of our weekly podcast series.  https://www.devex.com/account/newsletters to the Devex Newswire and our other newsletters. 

25 APR 2024 · As finance ministers and central bank governors from the G20 nations concluded their recent meetings, concerns over the pace and stability of global economic recovery took center stage. In an exclusive conversation with Achim Steiner, the Administrator of the United Nations Development Programme (UNDP), key insights emerged regarding the discussions surrounding coordination, the global financial architecture, and pressing challenges facing developing economies.

23 APR 2024 · The https://www.devex.com/organizations/world-bank-group-38382 and https://www.devex.com/organizations/international-monetary-fund-imf-44300 are trying to evolve and prove they are fit for purpose, but the jury is out on just how far that evolution process has gone.  While numerous announcements were made at the World Bank-IMF Spring Meetings last week in Washington D.C., the pace of reform is too slow, according to several experts. “The rhetoric in terms of the important pronouncements that have been made are saying the right things, but they're not giving you the next three things that could get done in the next month, in the next three months, in the next six months, in the next 12 months,” Afsaneh Beschloss, founder and CEO of investment firm RockCreek, told Devex.   “And so what I would urge the shareholders to do is really get serious, put pressure on the World Bank to start getting things done, not to look at the negativity, but look at the need,” she said, adding that “so much can get done today as we speak.” This gap between rhetoric and reality, between policy making at 10,000 feet and the impact on the real ground-level economy, was evident in the meetings, experts tell Devex in this podcast episode. "The world is in a very, very difficult place. There is progress, but not enough. Reforms need to broaden and deepen to address the grave situation," Rachel Kyte, professor of practice in climate policy at the University of Oxford, told Devex. We also speak with John Denton, the secretary general of the https://www.devex.com/organizations/international-chamber-of-commerce-icc-22798Want to understand what played out at the meetings and what’s next? This podcast episode will give you the rundown.

22 APR 2024 · How can the https://www.devex.com/organizations/world-bank-group-38382 play a role in attracting more private capital to address development and climate needs? That is a challenge that World Bank President Ajay Banga has prioritized and was a key discussion in Washington, D.C., last week at the World Bank and International Monetary Fund Spring Meetings. From a Private Sector Investment Lab charged with helping the bank identify and scale what already works to a new loan guarantee platform and plans to bundle and sell somehttps://www.devex.com/organizations/international-finance-corporation-ifc-44392 investments to private investors, changes are afoot.  But there are questions about how far existing proposals go, if they will succeed, and how exactly private sector mobilization will be measured.  In this podcast episode we hear from experts about how those efforts stack up and what more can be done to attract private money to these markets.  We dive into what the Private Sector Investment Lab has prioritized, why mobilization efforts have been stymied, and the importance of data transparency in these discussions.  Gavin Wilson, who leads DAI Capital; Nancy Lee, director for Sustainable Development Finance at the https://www.devex.com/organizations/center-for-global-development-44582; Ben Weisman, executive director of capital mobilization and public policy at the https://www.devex.com/organizations/glasgow-financial-alliance-for-net-zero-gfanz-212290; and Gary Forster, CEO of https://www.devex.com/organizations/publish-what-you-fund-46485 share their insights. 

19 APR 2024 · This week we are closely following the https://www.devex.com/organizations/world-bank-group-38382 and https://www.devex.com/organizations/international-monetary-fund-imf-44300Spring Meetings taking place in  Washington, D.C. From having a capital increase to provide funding for the world's low-income countries to how the financial institution can support the fight against climate change, we dig into the key conversations we’re following at the conference.  In addition to increasing risk appetite to encourage private capital mobilization, we argue that multilateral development banks, as well as organizations under the World Bank Group umbrella should be collaborating better in order to maximize impact.  To discuss how the bank can be reformed for it to be a better partner in global development, Devex President and Editor-in-Chief Raj Kumar sits down with https://www.devex.com/organizations/world-resources-institute-wri-44587 CEO Ani Dasgupta and Devex Senior Reporter Adva Saldinger for the latest episode of the podcast series. https://www.devex.com/account/newsletters to the Devex Newswire and our other newsletters. 

15 APR 2024 · The https://www.devex.com/organizations/world-bank-group-38382 is about 18 months into its efforts to reform the institution in response to shareholder demands and changing global needs. From stretching its existing funding to attracting more private capital, the bank has laid a laundry list of proposals on the table. So what has been accomplished thus far and what more is needed? That’s what we tackle in the first episode of a special edition podcast during this year’s World Bank and https://www.devex.com/organizations/international-monetary-fund-imf-44300 Spring Meetings, which take place in Washington D.C. this week. The bank has a new capital adequacy framework to get more out of its own money, a new mission statement making climate change part of its core ambition, and of course a new leader in Ajay Banga. Listen in to hear Devex Senior Reporter Adva Saldinger in conversation with Clemence Landers, a senior policy fellow at the https://www.devex.com/organizations/center-for-global-development-44582, Kevin Gallagher, director of the Global Development Policy Center at https://www.devex.com/organizations/boston-university-bu-40242, Stephanie von Friedeburg, managing director of banking and capital markets advisory at https://www.devex.com/organizations/citi-group-20297, and Rep. French Hill, a Republican from Arkansas, who is vice chair of the House Financial Services Committee.

11 APR 2024 · As the war in Gaza stretches past the six-month mark, this week we had an exclusive story on https://www.devex.com/news/exclusive-unrwa-restrictions-hamper-gaza-relief-by-broader-un-107419, the United Nations agency leading the humanitarian response for Palestinians. The agency — caught in a political war — was forced to ground its fleet of trucks, cars, and security specialists used by other U.N. agencies delivering support to those affected by the conflict.  We have also been closely following the conversations around localization. A few months ago, a rural Sierra Leone-based nonprofit leader was unable to get a visa to a conference in Denmark — which led to an open letter demanding change in how convening spaces on locally led development should be organized. Four months later, it appears that https://www.devex.com/news/no-events-about-you-without-you-samantha-power-tells-local-leaders-107414, including the https://www.devex.com/organizations/united-states-agency-for-international-development-usaid-45096. We explore how localization can be more effectively carried out, including the need to move the headquarters of institutions closer to the communities they aim to serve, as well as having greater representation from the developing world in academia.  Also on the topic of localization, we dug into the analysis of https://www.devex.com/news/how-much-of-usaid-s-money-went-to-local-grantees-in-2023-107417. We found that the agency allocated around $1.3 billion to local partners via grants and cooperative agreements in 2023, which is the same amount as the previous fiscal year.  To discuss these stories, Devex President and Editor-in-Chief Raj Kumar sits down with Aude Darnal of the https://www.devex.com/people/stimson-center-1882420and Devex’s U.N. correspondent Colum Lynch for this week’s episode of the podcast series. https://www.devex.com/account/newsletters to the Devex Newswire and our other newsletters. 

4 APR 2024 · Last week, we launched https://pages.devex.com/roots-of-change, a Devex series on locally led development, which explores how the localization agenda can be elevated from rhetoric to reality. We have been following the discussions around localization for the past couple of years and the progress made toward empowering local communities in shaping global development initiatives. As part of the series, we published an article that outlines https://www.devex.com/news/5-things-we-ve-learned-about-localization-107352 we learned about the current state of the debate based on our coverage. We highlight that while progress is slow, change is inevitable.  At the https://www.devex.com/organizations/inter-american-development-bank-idb-20083, https://www.devex.com/news/idb-reforms-new-funds-have-been-approved-what-s-next-107343. From changing how they operate to identifying new metrics of success, we dig into how the financial institution plans to become a better partner in development as it urges other MDBs to undergo reform as well. We also touch upon an interactive article we published on the https://www.devex.com/organizations/united-states-agency-for-international-development-usaid-45096’shttps://www.devex.com/news/interactive-how-usaid-plans-to-spend-25-6b-in-the-coming-months-107357. Find out how the agency is planning to distribute $25.6 billion, including the sectors and countries targeted.  In the latest episode of the This Week in Global Development podcast, Devex President and Editor-in-Chief Raj Kumar sits down with Nasra Ismail, U.S. enterprise executive director at https://www.devex.com/organizations/alight-44518, and Devex Senior Reporter Adva Saldinger to discuss the global development stories above. https://www.devex.com/account/newsletters to the Devex Newswire and our other newsletters. 

28 MAR 2024 · This week, we reported that at the Employees at the International Foundation for Electoral Systems — a 37-year-old pro-democracy organization based outside Washington, D.C. — employees formed a new staff union https://www.devex.com/news/the-labor-fight-roiling-a-pro-democracy-organization-105482. The issue is entangled within the wider debates of localization. While employees most certainly want to provide technical support to local partners, they do not believe that the process should undervalue the employees who provide it.  At the end of last week, https://www.devex.com/news/house-committee-passes-bill-to-make-local-funding-easier-for-usaid-107325 was passed by the House Foreign Affairs Committee, legislation that would ease complexities in https://www.devex.com/organizations/united-states-agency-for-international-development-usaid-45096's grantmaking process. While the bill still needs to clear the U.S. Senate, most seem hopeful it will do so. It is believed that the legislation would help USAID reach its localization targets, especially if it is passed before the U.S. general election in November.  On the other side of the pond, a spending watchdog found that the creation of the https://www.devex.com/organizations/foreign-commonwealth-development-office-fcdo-158082 has undermined https://www.devex.com/news/severe-risk-to-aid-work-from-controversial-merger-uk-government-admits-107334. The report also raises the alarm that "staff have experienced change fatigue and are unhappy that key issues such as terms and conditions and career pathways have yet to be resolved.” To dig into these stories, and others, Devex President and Editor-in-Chief Raj Kumar sits down with George Ingram and Fiona Zublin for the latest episode of the podcast series.  https://www.devex.com/account/newsletters to the Devex Newswire and our other newsletters.