The Rockefeller Foundation Proposes “Growth and Investment Reset” to Move Developing Countries From Debt to Development

roposal outlines a low-cost plan for IMF, World Bank, and G20 creditors to surge affordable financing to up to about 40 countries

New York, NY | October 7, 2026 — Today, The Rockefeller Foundation released From Debt to Growth: A Proposal for a Growth and Investment Reset, a policy proposal to address the financing crisis impacting developing countries. The Reset would surge affordable, long-term IMF and World Bank financing to about 40 low- and lower-middle-income countries with sustainable debt and ambitious growth agendas, while simultaneously working with bilateral creditors to ensure this surge finances growth, not debt repayment. The proposal offers a growth-focused path that aims to seize a narrow window to act before developing countries fall into debt distress.

“Developing countries are facing an unprecedented crisis of fiscal space and affordable financing. If left unaddressed, the costs will be immense– in terms of growth, human lives, and the eventual debt restructurings that will be required,” said Christina Segal-Knowles, Managing Director for International Policy at The Rockefeller Foundation. “To solve this, we don’t need a debt initiative; we need a growth initiative. The Reset seizes a narrow window to offer countries the support they need to return to growth and sustainability before they fall into debt distress.”

The Reset gives countries committed to a country-led growth and investment agenda the support and time needed to build the macro foundations for private investment and self-sufficiency. In doing so, it recalibrates ambition from stabilization to sustained growth and forms a grand bargain among key stakeholders:

• IMF and World Bank: a surge of new, long-term, affordable, coordinated financing tied to a medium-term investment plan.
• Bilateral creditors: a commitment to avoid net withdrawals during the program and extend maturities as needed, in exchange for IFI support that improves their odds of repayment. About $80 billion in principal from these countries is due to G20 members through 2030.
• Private creditors: multilateral development bank guarantees to refinance unsustainably expensive loans, paired with stronger debt transparency and pause clauses.

The Reset complements, rather than replaces, debt restructuring reform for the few countries that need it and is designed for limited donor cost.

The proposal urges the G20, under the UK presidency, to build consensus/support around a solution that countries want to join, that does not rely on major new donor funding, and that is acceptable to all key stakeholders.

The full proposal is available here.

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About The Rockefeller Foundation:

Investing $30 billion over the last 113 years to promote the well-being of humanity, The Rockefeller Foundation is a pioneering philanthropy built on unlikely partnerships and innovative solutions that deliver measurable results for people in the United States and around the world, including in association with RF Catalytic Capital Inc (RFCC). We leverage scientific breakthroughs, artificial intelligence, and new technologies to make big bets across energy, food, health, and finance. For more information, follow us on LinkedIn @the-rockefeller-foundation, X @RockefellerFdn, Instagram @rockefellerfdn, and YouTube @rockefellerfound, and sign up for our newsletter at www.rockefellerfoundation.org/subscribe.