Development finance supports global public goods such as physical infrastructure, nurtures emerging industries such as renewable energy, and uses concessional finance to further policy goals such as economic diversification, public health, climate change mitigation and adaptation. While private actors play a crucial role in international financial markets, development finance can help determine the direction of the global economy and lay the groundwork for sustainable and inclusive economic growth. The Global Economic Governance Initiative’s program on Development Finance explores the roles of development finance institutions – including multilateral, regional and national development banks and export credit agencies – in facilitating economic stability, human well-being and environmental sustainability.
Concomitantly, the Global China Initiative (GCI) produces extensive research examining the extent to which China’s development finance fosters a more stable, socially inclusive and environmentally sustainable world economy. Explore resources on Chinese development finance.
Research Highlights
Latest News & Publications
GDP Center Roundup: IMF/World Bank Group Spring Meetings, 2024
April 11, 2024By Tim Hirschel-BurnsFrom April 15-19, policymakers, civil society, researchers and more will gather in Washington, D.C. for the 2024 International Monetary Fund (IMF)/World Bank Group... [ More ]
The Role of Institutional Design in Mobilizing Climate Finance: Empirical Evidence from Bangladesh, Brazil, Ethiopia and Indonesia
March 25, 2024Many developing countries have sought international assistance to implement climate change-related programs and projects. Estimates suggest that emerging market and developing economies will need to... [ More ]
Capacity Builders, Market Shapers and Financiers: The Three Roles of Development Finance Institutions in Supporting Coal Plant Phase-Down
March 25, 2024By Niccolò ManychIn the past, coal has been a pivotal driver of electrification and economic development. However, the social costs of coal-fired power plants—in terms... [ More ]
The Role of Development Banks in Catalyzing the Infrastructure of South America in the 21st Century
March 21, 2024While Asia continues to grow, South America remains stagnant. There are multiple reasons for this, but one major obstacle is the lack of investment in... [ More ]
Early Phase-Down of Coal Plants: The Role of Development Finance Institutions
March 21, 2024Many governments have committed to stop building new coal-fired power plants both domestically and abroad, but the greatest emissions reductions would be achieved through the... [ More ]
Now or Never for Sustainable Development: The Imperative of Raising Capital for Shared Global Sustainability Goals
February 02, 2024By Rebecca RayEmerging market and developing economies (EMDEs) need an immediate, stepwise infusion of investment for climate and conservation goals: $1 trillion in international capital... [ More ]
Now or Never: Mobilizing Capital for Climate and Conservation in a Debt-Constrained World
February 02, 2024A cycle of extreme weather, financial instability, unsustainable debt levels and high costs of capital are limiting fiscal space at precisely the moment that a... [ More ]
Around the Halls: A Year in Review and Look Ahead to 2024
December 18, 2023The year 2023 is coming to a close as emerging market and developing economies continue to experience economic headwinds in the form of higher-for-longer interest... [ More ]
Why Climate Finance Discussions at COP28 Will Be Incomplete Without a Reformed International Financial Architecture
December 08, 2023By Tim Hirschel-BurnsWith the 28th United Nations Climate Change Conference (COP28) in Dubai underway, countries are yet to resolve major questions on closing the gap... [ More ]
What to Expect: Brazil’s G20 Presidency
December 04, 2023By Tim Hirschel-BurnsOn December 1, 2023, Brazil took over the presidency of the Group of 20 (G20) from India (the recent addition of the African... [ More ]
