The soaring cost of capital for many low- and middle-income countries, particularly in Africa, is one of the most urgent and overlooked development challenges.

High borrowing costs are hindering vital investments in energy, infrastructure, food security and public services – threatening development progress and deepening global inequality.

But this decisive year for Africa could present opportunities for reform. South Africa is hosting the G20 Presidency – a first for an African country – whilst the next African Development Fund replenishment is due in November.

In this critical moment, guests examine what it would take to make development finance fairer, more affordable and aligned with African countries' priorities. We hear about the political choices and practical mechanisms that could create a system that is more effective and better equipped to respond to today's challenges.

Guests

• Sara Pantuliano (host), Chief Executive, ODI Global
• Valerie Dabady, Manager, Resource Mobilization and Partnerships Department, African Development Bank 
• Hanan Morsy, Deputy Executive Secretary and Chief Economist, United Nations Economic Commission for Africa 
• Bright Simons, Visiting Senior Fellow, ODI Global
  
  

Related resources

• Investor Herding and Spillovers in African Debt Markets (Report, American Economic Association)
  
  
• Tackling the 'cost of capital' crisis in small vulnerable nations (Policy Brief, ODI Global)
  
  
• How can development financing be reformed? The road to Seville (Think Change podcast, ODI Global)
  
  
• On borrowed time? The sovereign debt crisis in the Global South (Think Change podcast, ODI Global)