The future of European development cooperation hangs on the British vote to “leave” or “remain,” a new development finance power convenes in Beijing, while the titans of Silicon Valley rub elbows with global entrepreneurs. This week in development news:
Citizens of the United Kingdom vote Thursday on whether to remain part of the European Union or leave. The choice has big implications for international trade but also for European global development cooperation. “Aid projects are on hold, careers are in limbo, and new contracts are on the line,” writes Devex London Correspondent Molly Anders. The EU is the world’s largest aid donor, contributing $62.5 billion, or nearly half of global aid spending. Britain’s departure from the political and economic union would likely have implications both for the size of the EU’s aid budget and for what it prioritizes. The UK would exert far less influence over European development policy at a time when major reforms are on the table and questions about immigration and refugee policies have become paramount. In the meantime, the so-called “Brexit” referendum has put projects on hold and induced a lot of “psychological tension” among European development professionals who aren’t sure what the future will hold.
Tech executives, startup hopefuls, angel investors, and the President of the United States are all at Stanford University in California this week at the Global Entrepreneurship Summit. Tech giants like Facebook’s Mark Zuckerberg, Uber’s Travis Kalanick, and Google’s Sundar Pichai will consider alongside attendees questions ranging from how to overcome the barriers to early stage funding for emerging market entrepreneurs to the role of the global development community in energy efficient appliances, to how the next $1 billion company can emerge from the Global South. Follow Devex West Coast Correspondent Catherine Cheney’s coverage for highlights and analysis.
About the author
Michael Igoe@AlterIgoe
Michael Igoe is a Senior Reporter with Devex, based in Washington, D.C. He covers U.S. foreign aid, global health, climate change, and development finance. Prior to joining Devex, Michael researched water management and climate change adaptation in post-Soviet Central Asia, where he also wrote for EurasiaNet. Michael earned his bachelor's degree from Bowdoin College, where he majored in Russian, and his master’s degree from the University of Montana, where he studied international conservation and development.
