In an interview with Forbes contributor Rahim Kanani, Dr. Rajiv Shah, Administrator of USAID, reflects upon his participation at the impact investing conference at the Vatican and the power of private capital to fight global poverty.
From original article:
"We’re partnering with engines of American innovation—corporations, foundations, and faith-based communities—to help nations build market-based economies and democratic societies connected to our own. Thirty years ago, 80% of the capital that came into the developing world was from government assistance. Today, the opposite is true. Over 80% of the capital entering the developing world comes from private sources. It has never been more important than it is today to harness the power of private capital in support of social good."