A Neglected Solution to the Development-Finance Gap
Governments, banks, and investors have neglected a critical tool in the development-finance toolbox. New technologies allow for easy access to data that earlier generations could only dream of, yet they are not being used nearly enough to attract more capital or improve the efficiency of current spending.
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LONDON – Last week, the United Nations convened world leaders and development experts in Addis Ababa, Ethiopia, to try to focus minds on the need for more development finance. In the face of tight government budgets, a looming debt crisis, and the chronic challenge of attracting private investment, the outlook for many developing countries – especially in Africa – seems bleak.