The Chronicle of Philanthropy has published this year’s Philanthropy 50, the publication’s annual list of America’s biggest donors.
- Record EUR 3.3 billion European Investment Bank engagement across Africa supports private sector, clean energy, transport and water investment
European Investment Bank (EIB) President Werner Hoyer revealed the EIB agreed €3.3 Billion of new financing in Africa in last year, the Bank’s largest ever engagement in Africa. Hoyer was speaking at the African Union summit in Addis Ababa.
A new paper from the UK’s Conservative Party calling for a multibillion-pound cut in the UK’s overseas aid budget and closure of the UK’s development aid agency the Department for International Development (DfID) has drawn ire and condemnation from oppostion parties and members of development community. The report is backed by a number of senior figures in the Tory party including former foreign secretary Boris Johnson and argues the UK should define its aid spending on using its own criteria and that its purpose should be expanded from poverty reduction to include ‘the nation’s overall strategic goals’.
British NGOs’ hopes for securing EU funding post-Brexit have been all but ended after Brussels overturned the legal justification for funding humanitarian groups based outside the bloc. The decision was revealed after ECHO, the European Commission’s humanitarian arm, wrote to 10 Swiss NGOs in December of last year to inform them they would be cut off from funding after an internal review found the legal basis for funding NGOs outside the EU – Convention 124 of the Council of Europe – was now deemed insufficient.
A call for an end to the US’s control over the nomination for president of the World Bank From The Atlantic’s Annie Lowery in the wake of President Trump’s nomination of noted Bank critic David Malpass for the role. Lowery calls the decision to limit the talent pool to Americans ‘unjustifiable’, an issue Malpass’s nomination ‘only makes clearer’ given his lack of development expertise and his role as chief economist at Bear Stearns when the bank failed during the 2008 financial crisis.
President Trump’s nominee for World Bank President could have major ramifications for China. Trump’s candidate for the position David Malpass has been outspoken in his criticism of the Bank’s continued lending to China, describing the superpower as neither ‘poor’ nor unable to raise funds from domestic and international sources. If the World Bank were to stop lending to China it would strip the country’s designation as an emerging market which grants China special treatment at both the World Bank and the World Trade Organisation.
Related: Q&A: Former World Bank China director on David Malpass
IFAD, the EU, the African, Caribbean and Pacific Group of States (ACP), the government of Luxembourg and the Alliance for a Green Revolution in Africa (AGRA), are launching a new impact fund to aimed at attracting capital to rural areas of developing countries. The Agri-Business Capital (ABC) Fund will provide access to finance for rural entrepreneurs in the agricultural sector to help them grow their businesses and create jobs for rural people.
An interview with Bill and Melinda Gates about the importance of data, human capital, and getting more mobile phones in the hands of women, three of the nine ‘surprises’ found in the couple’s annual letter released on Tuesday.
The Asian Development Bank (ADB) and Agence Francaise de Developpement (AFD), the French Government’s development aid agency, have agreed to increase their cofinancing agreement from USD $3 Billion in the past three years to USD $5 Billion in the next three years.
FSD Kenya has announced it has begun the search for its next Director following the David Ferrand’s decision to step down from the role in mid-2019.
The Skoll Foundation has announced Donald H. Gips will be the foundation’s nect CEO. Gips is a veteran of both the Obama and Clinton Administrations and helped to design and create the entity which eventually became the AmeriCorps program.
IFPRI Director General Dr. Shenggen Fan has joined the Global Panel on Agriculture and Food Systems for Nutrition as the group’s newest Panel Member.
A conversation with Bill Gates about his philanthropy, the issues he and Melinda Gates have chosen to emphasise in their annual letter regarding the Gates Foundation’s activities around the world, and increasing concerns about whether large private foundations like the Gates Foundation should be the ones controlling and directing such vast resources rather than governments.