"This reincarnation of USAID's Development Innovation Ventures as the nonprofit DIV Fund is thanks to $48 million raised from two private donors. It is a rare instance of continuation after the Trump administration froze all foreign funding last year and unleashed Elon Musk's Department of Government Efficiency to tear down the agency that delivered U.S. foreign aid for 60 years."
"Out of that destruction, which cost tens of thousands of jobs and caused people around the world to die, many private efforts were made to preserve decades of data and knowledge housed at USAID, help recipients keep vital programs running and reimagine how international development might work. But few of those efforts have managed to attract the kind of philanthropic funding that the DIV Fund has."
A division of USAID eliminated by administration cuts was reestablished as the independent nonprofit DIV Fund after raising $48 million from two private donors. The new nonprofit enables continued international work and aims to grant about $25 million annually, roughly half of DIV's previous USAID budget. The administration's freeze of foreign funding and agency dismantling caused widespread job losses and harmed global recipients. Private efforts preserved institutional data, supported vital programs, and reimagined development approaches, though few attracted major philanthropic backing. Funders, former grantees, and staff marked the transition with resolved optimism.
Read at Fortune
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