I do accept the end of this fantastic article by Thomas Meaney: "If all the sins of the U.S. security state can be loaded onto one man... his critics can regard his foreign policy as the exception rather than the rule...
....but the enduring cult of Kissinger points to a less palatable possibility: Kissinger is us."
...points to the fact that there has never been a real reckoning in the US regarding its global actions during the Cold War, something more urgent as we slip towards a potential new cold war with China.
There was a reason much of the world joined the non-aligned movement...
...for many countries, the moral superiority of US over USSR foreign policy wasn't clear, for good reason. Indonesians, Chileans, Cambodians, Nicaraguans... the list is long....
Hopefully, if greater tension with China is inevitable, the US will embrace the pragmatism of Kissinger pursuing Detente with Russia & reject the treatment of most of the world's populations as utterly expendable --the mass murdering Kissinger planning bombing runs on Cambodia.
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Welcome to 15 Leading CEOs & Chairs Joining the World Bank's Private Sector Investment Lab! I'm sure they'll help bring the masses of private investment to help meet the Sustainable Development Goals that the Bank’s International Finance Corporation...
...IFC Advisory Facilities, the Bank’s Private Sector Advisory Services Department, its Public Private Partnership Legal Resource Center (and PPP Knowledge Lab), its Public-Private Infrastructure Advisory Facility, its Global Infrastructure Facility...
...and its Private Infrastructure Development Group, to say nothing of the ACP-EC Energy Facility African Capacity Building Foundation, African Catalytic Growth Fund, African Water Facility, DBSA Development Fund DEVCO FEMIP Support Fund....
. A thread and blog on what I thought was a really promising World Bank Group effort to support privately provided renewable power in Africa which turns out to be not what it seemed, and lessons for the IFC, the World Bank and donors.
Scaling Solar combines World Bank technical assistance and IFC financing to support private solar projects in Africa and beyond. Ex prez Jim Kim did a TED talk that lauded it,
Ex IFC CEO Philippe Le Houérou said Scaling Solar demonstrated solar was the cheapest energy solution in Africa.
Great to see this from World Bank Executive Directors Wempi Saputra Erivaldo Alfredo Gomes and Abdoul Salam Bello, expressing what representatives from a large swath of World Bank client countries want from World Bank reform efforts.
"[T]he Bank must refrain from compromising countries’ “ownership” of policies ... the Bank must ensure that concessional loans or grants aimed at [GPGs] do not lead to higher borrowing costs or trade-offs between middle-income countries and low-income countries."
"While some financial innovations have shown promise, it is important to consider their full effects. For example, raising hybrid capital could increase the Bank’s borrowing costs at a time when clients are facing historically high interest rates and unsustainable debt burdens"
The World Bank's Updated Evolution Roadmap for presentation to the governors at the Spring meetings is a somewhat underwhelming advance on the version sent to the Board in December....
...there's more detail on stretching capital but it basically suggests it can raise a little more at no cost to borrowers or some more than that at a high cost to borrowers.
So you'd think there'd be details on a large capital increase to fund new mandates. But not really.
There are worrying statements about IDA's financing capacity in FY24/25, with some nods towards fixes, but limited ambition.
Doubtless all of the above reflects an impression that asking for more would go nowhere.
It is World Bank and IMF Spring Meetings week. Rich countries have a lot of distance to move if their demands for reform aren’t going to end up pushing the IFIs towards greater irrelevance. A thread...
The World Bank can lend more with existing capital, but the amounts that can be raised absent risking higher borrowing costs aren’t huge.
"German universities should expand English language courses to recruit more international students and help fill labour shortages, the country’s academic exchange service has said. "
"Foreign workers must increase to 40,000 per year during the next four-year parliamentary term – twice the current level – according to the Confederation of Finnish Industries."