Federal Reserve Bank of San Francisco
Low-income people in the U.S. and abroad face similar challenges: access to credit, housing, jobs, and critical services including health and education. And yet today, those who work on international economic development and community development hardly know each other. This issue of the Review is dedicated to a simple idea: innovative ideas to solve poverty should not stop at the national border. There are too many good ideas abroad that can help inform our practices domestically, and good ideas here that can be relevant to other countries.
This issue of the Review covers a host of ideas, including: innovating how we do small business finance (Root Capital); learning about affordable housing finance from Europe, Canada and Australia (Housing Partnership Network); overcoming regulatory barriers in the U.S. to help free up more impact capital as has been done in Europe (Calvert Foundation); using credit enhancements to promote bank lending in South Africa (Shared Interest and Strategic Philanthropy Advisors); finding ways to capitalize on the UK's innovative social impact bond concept for the U.S. (Third Sector Capital Partners); learning the best practices in measuring social metrics from around the world (Paul Veldman, Columbia University); using mobile phones to reach the unbanked (UN Capital Development Fund); thinking about how the Community Reinvestment Act (CRA) might go global (David Smith, Affordable Housing Institute); and considering how CRA might, or might not, work in Latin America (Tova Solo, formerly with the World Bank) and China (Prabal Chakrabarti, Federal Reserve Bank of Boston).
Economist Jeffrey Sachs, in his book The End of Poverty, states that "extreme poverty can be ended, not in the time of our grandchildren, but in our time." If we are to live up to Sachs' charge, it is essential that we share the best ideas we have from both the international and domestic antipoverty communities.
Global Agricultural Value Chains: Sustainable Growth as a Means for Sustainable Development
Patricia Lee Devaney, Root Capital
(PDF - 155KB)
International Housing Partnership Exchange
Thomas A. Bledsoe and Paul Weech, Housing Partnership Network
(PDF - 182KB)
Catalyzing American Retail Investment in Community Development Finance: What Can We Learn from Other SRI Success Stories?
Caroline Bressan and Eliza M. Erikson, Calvert Foundation
(PDF - 157KB)
Unlocking Local Capital for Development: Shared Interest’s Guarantee Fund for South Africa
Donna Katzin, Shared Interest and Robert Rosenbloom, Strategic Philanthropy Advisors, LLC
(PDF - 184KB)
Translating Plain English: Can the Peterborough Social Impact Bond Construct Apply Stateside?
Drew von Glahn and Caroline Whistler, Third Sector Capital Partners
(PDF - 238KB)
Learning Social Metrics from International Development
Paul Veldman, Columbia University
(PDF - 0.99MB)
The Latest Frontiers for Financial Inclusion: Using Mobile Phones to Reach the Unbanked
Tillman Bruett, UN Capital Development Fund
(PDF - 137KB)
CRA Goes Global: A Good Idea in the United States Could Use a Makeover and a Bigger Audience
David A. Smith, Affordable Housing Institute
(PDF - 183KB)
Why Latin America Urgently Needs CRA, and Why CRA Won't Work for Latin America
Tova Maria Solo
(PDF - 83.1KB)
Using the Framework of the Community Reinvestment Act to Support Rural Communities in China
Prabal Chakrabarti, Federal Reserve Bank of Boston
(PDF - 156KB)
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(PDF - 1.87MB)
Community Development Investment
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