Part 2: Capital Alignment – Rethinking How Development is Financed
One question inevitably finds its way into almost every conversation about development. Where will the money come from? Whether the discussion is about nutrition, education, climate resilience or livelihoods, it eventually comes back to financing. Governments speak of fiscal constraints, development agencies face shrinking aid budgets, philanthropy has finite resources, and businesses must balance social investments with commercial priorities. It is easy to conclude that the greatest barrier to development is simply a lack of money. For a long time, I accepted that assumption too. But the more I worked across different parts of the development ecosystem, the more I noticed something that didn't quite fit that narrative. Capital wasn't absent. In fact, it was everywhere. Governments were investing in public services. Businesses were expanding their sustainability and CSR commitments. Foundations were funding innovation. Development finance institutions were backing large program...