South America is going to launch its own development bank this weekend. The hope for Banco del Sur — the Bank of the South — is that it will spur economic growth in poorer countries like Bolivia and Ecuador. Dan Grech reports.
Brookings Journalist-in-Residence Paul Blustein comments on this new development.
I think blended finance, development finance, is what’s needed, is the future. The U.S. is using a model that was created 40 years ago and I think it’s way past time for modernizing our capabilities.