For several years now, there has been significant hype over emerging donors and questions over what their activity means for global development. Much of the conversation has focused on the features that differentiate emerging donors from more traditional donors and the impact these dynamics will have on international development finance. As these fast-developing countries invest in other emerging countries abroad, estimates show they could contribute close to 20 percent of the world’s total aid funding by 2020.
An equally significant trend that has drawn less attention is the steady rise of homegrown philanthropy within emerging economies, fuelled by the rise of a new class of affluent individuals. A recent report from WINGS — a network of philanthropic organizations from more than 50 countries — found that in the past decade, an unprecedented number of charitable foundations have been established in Asian, sub-Saharan African and Arab countries.
While Americans are undoubtedly at the head of the world’s top philanthropic foundations, wealthy humanitarians from the “global south” are increasingly seeking to lead the fight against global poverty — either through generous local donations or sizable international commitments.