Over the past several decades, private and official financing for international development have helped improve economic and social conditions in the world’s poorest countries.
Much progress has been made, but there is growing recognition that markets and the private sector must play a more significant role if we are to solve or at least make a dent in addressing some of the greatest challenges facing developing countries worldwide.
Impact investments – which target social or other non-financial returns along with a financial return, and require measuring the achievement of both – provide an opportunity to bring new capital to developing economies, improve the effectiveness of international development interventions, and advance development using market principles.
To help grow this market, the International Development Working Group makes four recommendations to governments and business and social sector leaders in G7, G20 and developing countries:
Establish a new Impact Finance Facility which will help to cultivate and develop new and innovative companies and business models as well as innovative social sector organisations, building the pipeline of impact investments
Create a Development Impact Bond (DIB) Outcomes Fund to facilitate the rollout of Development Impact Bond pilots
Improve metrics and increase transparency to support activities to advance the impact investing market
Provide additional resources for “ecosystembuilding” to support the broader environment for impact investing
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