At U.S.A.I.D., numerous employees have been dismissed and many global projects paused. Benjamin Black, a former Goldman Sachs analyst and son of private equity billionaire Leon Black, has been nominated by President Trump to lead the U.S. International Development Finance Corporation. His goal is to redirect some of U.S.A.I.D.'s $40 billion budget toward pro-market initiatives that enhance American interests abroad. In a recent essay, Black advocated for an investment-driven approach to foreign spending, shifting the emphasis from traditional aid to business investments.
If we are going to spend money abroad, let's do so with an investment-driven model, Benjamin Black and the tech entrepreneur Joe Lonsdale wrote in an essay.
Now, a former Goldman Sachs analyst... has ambitions to control some of U.S.A.I.D.'s roughly $40 billion budget and apply more of a pro-market approach to supporting development.
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