Trade development demands private money
As international aid decreases, countries will need private financing to help meet their development goals. Speaking at the World Trade Organisation (WTO) Aid for Trade review last week, WTO director general Ngozi Okonjo-Iweala said the international community needs to reconsider the types of financing used to help developing countries trade with the rest of the world. “Aid for trade is not over, but we need to think about how we pivot. [It was previously] mentioned that we need to use public money better. Public money cannot do everything, so how do we use it to catalyse other types of finance?”