As DFC launches into Ethiopia, they should look to lessons from the Marshall Plan to inform this new big push in American development finance. The Marshall Plan, passed in 1948 to send foreign aid to Europe in an attempt to limit Soviet influence following WWII, ultimately re-built Europe along pro-market lines. The stated goal of the Marshall Plan is a near perfect analogy to the current administration’s desire to curb Chinese influence in Africa. The Marshall Plan had specific goals to increase production, trade, and stability. The Marshall Plan provided guarantees to convert profit into dollars on American private sector investments in Europe to encourage American investment in European industry.

Source: Ethiopian News April 04, 2020 21:00 UTC