Devex: Development finance institutions grapple with their growing role
“…DFIs have gained prominence as the role of the private sector has been accepted and because their work can be put in direct service of meeting the Sustainable Development Goals. As the paradigm shifted from a focus on social service support and grant-based official development assistance to one more driven by private sector development, countries have turned to development finance institutions to provide solutions to help create jobs, spur economic development, and reduce poverty. As a result, the number of institutions has proliferated. … As DFI budgets grow and they play a more prominent role in development, they are also facing more scrutiny…” (Saldinger, 3/19).