Could the limits of foreign aid and charitable giving be reflected in the dismantling of USAID and the sunsetting of the Gates Foundation?
We are a wealthier world than we’ve ever known, but wealth isn’t solving our development challenges. The answer to our lack of progress may lie in the fact that, globally, less than 1% of the $212 billion in development aid directly reaches communities.
There has been much hand-wringing over what a post-USAID, post-Gates Foundation world might look like. We have the opportunity now to reorient development investment to build trust, confidence, and capabilities nearer to the challenges, opening new and significant investment channels directly to communities within emerging economies.