Author: Christian Novak / Publishing Institution: Institute for the Study of International Development, McGill University

Author:: Christian Novak
Publication Date:: 01-2020
Content Type:: Policy Brief
Institution:: Institute for the Study of International Development, McGill University
Abstract:: To advance education in lowermiddle-income countries, official donors and multilateral development banks must increase their financial support to address the financial gap. Specific recommendations: • Expand the use of innovative development financing solutions. • Expand the use of innovative aid solutions. • Multilateral development banks to increase financing volumes and to strengthen efforts to maximize financial additionality and private capital mobilization. • Review the classification of LICs and LMICs. • Increase domestic budget allocation. Implementing the recommendations require coordinated efforts of all stakeholders. In addition, it is paramount that lower-middleincome countries design and fully implement effective long-term education programs and systems. Benchmarking and feedback must be constant, prompting sustained improvement and the adoption of international best practices.
Topic:: Development, Education, United Nations, Foreign Aid, Finance, and Sustainable Development Goals
Political Geography:: Global Focus

Author:: Franque Grimard and Christian Novak
Publication Date:: 12-2019
Content Type:: Policy Brief
Institution:: Institute for the Study of International Development, McGill University
Abstract:: Development financial institutions, especially their private sector windows, must play a more effective role in contributing to achieve the 2030 Agenda. In order to achieve such higher needed effectiveness, DFIs must update their operating models and methods, and the most recently launched DFIs, like FinDev Canada, must widely adopt a modernized approach towards development financing. In this regard, we recommend that DFIs: • Increase mobilization volumes of private capital. • Widen the offering of financial products and structures with high financial additionality. • Maximize their investment potential. We believe that the implementation of the specific recommendations presented in this Policy Brief would significantly contribute to the necessary actions to achieve the 2030 Agenda. However, accomplishing the SDGs is not only dependent on the adaptation of DFIs, but also on complementary effective actions from countries, the international financial system and the private sector, in addition to collaboration among all stakeholders.
Topic:: Development, United Nations, Finance, and Sustainable Development Goals
Political Geography:: Global Focus

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