Ten Myths of the International Finance Facility

10 Pages Posted: 31 Mar 2008

See all articles by Todd J. Moss

Todd J. Moss

Center for Global Development

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Date Written: 5/24/2005

Abstract

The British proposal to create an International Finance Facility in order to "frontload" $50 billion in aid per year until 2015 has generated a lot of attention and will likely be a major topic at the G8 meeting this July. But the IFF has also been shrouded in confusion and misconceptions. This paper explains the IFF proposal and highlights some of the common misunderstandings surrounding it, including the mechanics of the scheme itself, the potential for a U.S. role, and the expectations of aid which underlie the IFF's premise. The UK deserves plaudits for elevating global poverty on the international agenda and for seeking ways to better harness the power of private capital markets for development. But the IFF, as currently conceived, is an idea that merits more scrutiny and a healthy dose of skepticism.

Keywords: foreign aid, international development, economic development

Suggested Citation

Moss, Todd J., Ten Myths of the International Finance Facility (5/24/2005). Available at SSRN: https://ssrn.com/abstract=1114149 or http://dx.doi.org/10.2139/ssrn.1114149

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