imagine you're a powerful hedge fund owner, powerful enough to count a Chancellor of the Exchequer as former employee.
But your daily job of counting the billions is not fullfilling enough.
But your daily job of counting the billions is not fullfilling enough.
you want to do good.
not by moving your hedge fund from an offshore haven so you pay proper taxes, but by helping those in need, your way.
Philanthropy, you believe, is far more effective than government interventions, because you have control over it.
not by moving your hedge fund from an offshore haven so you pay proper taxes, but by helping those in need, your way.
Philanthropy, you believe, is far more effective than government interventions, because you have control over it.
so you set up a hedge fund that doubles down as NGO in the Global South.
you choose your target underprivileged group carefully, those glossy brochures need the right smiles to melt down philanthropic hearts.
you choose your target underprivileged group carefully, those glossy brochures need the right smiles to melt down philanthropic hearts.
you even donate some of your billions to the NGO you control, that knighthood wont earn itself.
but knighthood is peanuts, what those billions gain you is ACCESS.
access to UN organisations, access to capitals in the Global South, and presto, you're a development powerbroker
but knighthood is peanuts, what those billions gain you is ACCESS.
access to UN organisations, access to capitals in the Global South, and presto, you're a development powerbroker
so when COVID19 hits, and poor countries must choose whether to pay bondholders or prop up health system, you whisper in their ears: market access..
when poor countries contemplate applying to Debt Service Suspension Initiative, you whisper in their ear: market access...
when poor countries contemplate applying to Debt Service Suspension Initiative, you whisper in their ear: market access...
when other NGOs/CSOs call for debt relief, your billions-powered charity take the opposite view, that debt relief endangers market access
market access is not simply about poor governments borrowing from global investors.
It's about a developmental model predicated on partnership with global finance for achieving the SDG.
It's about derisking as new governance mode: state derisks for its private finance partners
It's about a developmental model predicated on partnership with global finance for achieving the SDG.
It's about derisking as new governance mode: state derisks for its private finance partners
your charity allows you to shape that conversation, and push for the derisking state.
No wonder you're an early ESG/TCF convert: those regulatory risks wont take care of themselves
No wonder you're an early ESG/TCF convert: those regulatory risks wont take care of themselves
this isnt a Le Care novel. it's a real illustration of how NGOs/CSOs can be an outpost of private finance in development circles, a literal take on Billions to Trillions or Maximising Development for Finance.
it's how #WallStreetConsensus becomes reality
it's how #WallStreetConsensus becomes reality
https://twitter.com/DanielaGabor/status/1280081449748750336?s=20
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