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14 April - Improving the Development Impact of Private Finance

Wednesday, 16 April 2014 00:00

European ParliamentDFI (with Eurodad and Development Initiatives) produced a report for the European Parliament on “Financing for Development post-2015: Improving the Contribution of Private Finance”. The report underlines that official finance remains more important for low-income and vulnerable countries, due to large private finance outflows. Public finance is also more predictable, counter-cyclical and targetable at development goals. It catalogues major problems in using official finance to leverage private finance, including lack of additionality, transparency and ownership by governments and citizens, and poor evidence of development impact. It recommends that the EU focus instead on investing public finance in public services which promote investment (education, health and infrastructure), on changing policies such as investment and trade treaties which encourage tax evasion, and on supporting fair debt workout procedures and responsible private financing standards to maximise development impact. More information is available in this blogpost by Development Initiatives. 

 

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