Development Financing

It should be pointed out that quite a bit of aid goes to settings which are very challenging in terms of governance...we find that some donors that give aid are pretty good at choosing countries that may have relatively high corruption today, but in a few years, we track and see that aid is effective and corruption reduces over time.

[In situations like Egypt, you] will tend to see Congress layering more conditions on how money can be spent when they have concerns about administration strategy. When times are tight like they are now, it’s not surprising you would see increased scrutiny of foreign aid by members of Congress and increased conditionality.