Global Economic Recovery

Overview

In recent years, compounding crises — the pandemic, wars in Ukraine and Gaza, debt, food insecurity, and the impacts of climate change — have dramatically strained the international development and climate systems.

At the same time, developing countries are facing their worst debt crisis in history with almost half their budgets being spent on paying back their creditors.

Without much more additional funding, the needed investments in sustainable development and the green energy transition will not happen — and, inevitably, already-rising geopolitical tensions will only get worse.

The scale of external finance needed is huge: $1 trillion a year. Only with bold, transformational reforms of the global financial system will we be able to unlock funding and effectively fight poverty and climate change.

To meet this moment, The Rockefeller Foundation’s Global Economic Recovery team is working with a broad alliance of governments, institutions, and individuals to drive political will towards global financial reform. This would unlock hundreds of billions more in financing, allowing countries to invest in addressing climate change and development.