Devex

Microfinance, once considered a darling of development, has come under increased scrutiny — and rules, paving the way for greater consolidation. The prospect of further national regulatory tightening on microfinance lending in the global south increases the rationale for sector consolidation.

While global climate ambitions often focus on distant targets, we asked experts to cut through the long-term pledges and identify the immediate crises that cannot wait. As scorching temperatures sweep the globe, we asked climate leaders at Devex Impact House during London Climate Action Week: What is the climate issue that cannot wait?

Tips for team leaders on reframing their skills beyond the sector and insights into how recruitment for country directors has changed over the past year.

Zou Jiayi is “widely respected,” but also has unprecedented ties to the Chinese government. In January, the Asian Infrastructure Investment Bank saw the first leadership transition in its 10-year history, with Zou Jiayi taking over as president. The move was seen as a big step for AIIB, which, over the past decade, has invested nearly $70 billion in more than 360 projects across 40 member countries. It’s also expanding its focus on climate financing, and many see Zou’s role as enabling this shift.

A low-key retreat in the mountains of Azerbaijan gives negotiators a rare chance to tackle disputes over climate finance, adaptation, and energy transition away from the spotlight. Heads of delegations to the United Nations Framework Convention on Climate Change will retreat next Wednesday and Thursday to the mountains of Shamakhi, a city northwest of Baku, Azerbaijan, known for its traditional dancers and Soumak rugs.

AI could create an unprecedented wave of philanthropic wealth — but only if it materializes. Still, experts say nonprofits shouldn’t wait for the money to arrive before preparing. Also in today’s edition: How the World Cup and other events like it provide an opportunity for global development organizations.

The country-by-country allocations released by the U.K. government today alongside its Foreign, Commonwealth & Development Office’s annual report reveal which countries will see the sharpest decline in U.K. aid in the coming years. The U.K. will cut bilateral aid to Malawi and Mozambique by around 90% and slash support to several other low-income and fragile states by 2029, according to long-awaited figures published by the Foreign, Commonwealth & Development Office.

Sara Jerving is a Senior Reporter at Devex, where she covers global health. Her work has appeared in The New York Times, the Los Angeles Times, The Wall Street Journal, VICE News, and Bloomberg News among others. Sara holds a master's degree from Columbia University Graduate School of Journalism where she was a Lorana Sullivan fellow.

The philanthropy behind them has never sought credit for any of it. Its president explains how an idea becomes an independent fund, and what's brewing next in Kenya and Uganda. You might very well have heard of The END Fund or The Freedom Fund. You have probably never heard of the foundation that started both of them. That is by design.

Plus, concerns over transparency in the selection of the Global Fund’s next leader, and hiring trends for project directors. Ben Black, a former investor who became head of the U.S. International Development Finance Corporation, or DFC, last October, has been a bit of an enigma in the Trump administration. So his testimony before Congress yesterday was closely watched for any drama. Democrats ensured it didn’t disappoint.