Over the past decade, the international community has increasingly focused on leveraging private investment to support growth and achieve the Sustainable Development Goals. In order to finance infrastructure and development, many middle-income countries are increasingly turning toward the private sector. However, very poor and fragile states still face serious obstacles in accessing private capital. In fragile contexts, poor infrastructure, political and economic risks, inefficient regulatory regimes, and weak financial systems all pose barriers to mobilizing new investment and kick-starting private sector growth.

The ninth annual conference of the Julis-Rabinowitz Center for Public Policy and Finance, “Development Finance in Fragile States,” brought together a group of prominent economists, policymakers, and investors to explore these challenges. The conference, in particular, looked at the role of multilateral development banks and development finance institutions, new instruments to leverage private sector investment, risk management in fragile states, and China’s approach to financing development through the Belt & Road Initiative.