Kusi Hornberger

Roughly a third of impact funds appear credible on first read: They have clear theses, polished SDG mappings and well-designed reports. Yet those same funds score far lower on the less-visible dimensions of impact reporting, particularly measurement rigour and governance of impact performance. That finding — and the three that follow — comes from an AI-powered analysis of publicly available impact reports.

Is foreign aid dead? Budgets, headlines, and public opinion polls would have you believe so. But the real story isn’t just about decline — it’s about evolution. As public budgets tighten and skepticism grows, the old aid model is giving way to a new one built around partnership, private capital, and shared prosperity. By the numbers, the traditional aid model has fallen short. Ten years after the Sustainable Development Goals were adopted, only 18% of targets are on track.

(Illustration by Melinda Beck) Many of the challenges that outcomes-focused government seeks to address in the United States—job creation, homelessness, education, and mental health—are also entrenched in other countries, even in places where social safety nets are stronger. As governments worldwide search for more effective ways to deliver results, a global effort is emerging.