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1 month ago | 
devex.com | Adva Saldinger
As shrinking aid budgets and the dismantling of the U.S. Agency for International Development take a toll on aid flows, attention is turning to funding alternatives, including ways to mobilize more private dollars to tackle development challenges. One approach is blended finance, which leverages catalytic capital from public or philanthropic sources to increase private sector investment. Still, it remains a relatively small market.
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1 month ago | 
devex.com | Adva Saldinger
African governments must prioritize health investment amid shrinking international aid and rising economic pressures, global health experts said at a recent Devex event on the sidelines of the 78th World Health Assembly. “Health has been consistently deprioritized in national budgets, especially in poorer countries, and it's not clear why that happened,” said Kalipso Chalkidou, director of health financing and economics at the World Health Organization.
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1 month ago | 
devex.com | Adva Saldinger
In a marathon day in the U.S. Senate on Tuesday, Secretary of State Marco Rubio faced a barrage of pointed questions, along with accusations that he illegally dismantled USAID and bears responsibility for aid cuts that have led to thousands of deaths.
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1 month ago | 
devex.com | Adva Saldinger
For the past decade, the African Development Bank has been Akinwumi Adesina’s bank. The bespectacled leader known for his signature bow ties led the bank to considerable growth. Today, AfDB’s capital is $318 billion, more than triple what it was when he took up the job. But as his second term expires, the race for his successor is on. That man or woman is set to inherit the bank at a pivotal moment for the continent and the institution.
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1 month ago | 
devex.com | Elissa Miolene |Adva Saldinger
A federal judge has ruled in favor of the U.S. Institute of Peace, declaring that President Donald Trump’s efforts to dissolve the organization violated constitutional law and represented a “gross usurpation of power.” The decision follows months of legal back-and-forth around the U.S. Institute of Peace, an independent nonprofit organization established by Congress in 1984. For decades, the institute conducted research, training, and peacebuilding activities across the world.
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1 month ago | 
devex.com | Adva Saldinger |Elissa Miolene
Ever since U.S. President Donald Trump returned to the White House, his administration has waged war on U.S. foreign aid. That has led to a dizzying array of legal battles — and a back-and-forth that continues to play out across Washington, D.C.’s courtrooms. There’s the case brought by USAID’s implementing partners, pushing the government to pay for work that was already contracted. Another, filed by USAID staff, challenges the sweeping terminations that upended the agency earlier this year.
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1 month ago | 
devex.com | Adva Saldinger
The acting CEO of the Millennium Challenge Corporation, the U.S. aid agency whose fate is in limbo, resigned Tuesday, according to several sources. “As of this afternoon, I have stepped down from my temporary service as MCC’s Acting CEO and I will proceed to take deferred resignation,” Gina Spiro wrote in a Tuesday email to staff that was seen by Devex.
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1 month ago | 
devex.com | Adva Saldinger
For this special episode of our podcast series, Devex Senior Reporter Adva Saldinger sits down with UNDP chief Achim Steiner to discuss the impact of the Trump administration's cuts to UNDP. Listen to "Exclusive Interview: UNDP's Achim Steiner on the 'chronic erosion' of development" on Spreaker. Listen on Spotify, Apple Podcasts, Soundcloud, YouTube, or search “Devex” in your favorite podcast app.
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1 month ago | 
devex.com | Adva Saldinger |Elissa Miolene
The Trump administration’s proposed budget for fiscal year 2026 would make unprecedented cuts to foreign aid, which some called “reckless” and “self-defeating.” The White House released its budget request on Friday that proposes a 47.7% cut in funding for state and international programs from 2025 levels, down to $31.2 billion, and signaling its intention to rescind about $20 billion in funds previously approved by Congress.
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1 month ago | 
devex.com | Adva Saldinger
Last week, the Millennium Challenge Corporation — a U.S. aid agency focused on economic development — was informed by the Department of Government Efficiency, or DOGE, that it must rapidly wind down all operations, with significant staffing reductions. The fallout could be more than just abandoned infrastructure projects, it could lead to a major erosion of trust in the United States, experts told Devex. But that may not be final.
