There's a whole big segment in most developing countries that don't have access to traditional lending mechanisms, and digital is much quicker, transparent and equitable. And there's less opportunity for corruption. You don't have the middleman.
"The Congress was very clear in rewriting the legislation, in writing the Build Act, in giving the DFC a very strong development mandate that fits in with U.S. foreign policy. It did not have a domestic mandate."
Economists and business experts disagree on the likely future of work and impact of technology. Some see widespread unemployment, others high-quality jobs. Technology change is happening so fast, it's hard to look three years into the future, much less 10 years.
You have to assume that some core portion of those votes [against OPIC's reauthorization] were members of Congress who always vote against foreign aid. What strikes me is that the opposition that we’ve seen over the last two years against Ex-Im has not translated into opposition against OPIC.
OPIC should push further in the direction of venture capital investments, where some degree of failure is acceptable and even necessary to ensure an institution is operating at the cutting edge of where a market can and should be going.
The United Kingdom’s Department for International Development has been given enough heft that it can influence other government policies. Over the long term that will make Britain an even more progressive force in the world.
[I applaud USAID Administrator Raj] Shah’s focus on agricultural productivity such as improved fertilizer techniques and drought-resistant seeds, an emphasis that fell out of favor in development circles after the 1990s.