Financing the Green Economy in Developing Countries
Financing the Green Economy in Developing Countries is a four-part session examining the current funding paradigm affecting emerging markets and how investors can fill the gaps in the decline of development assistance to achieve Green Economy goals.
Organized by Impact Hub New York Metropolitan Area and in partnership with Princeton University, this session will feature panels of DFI leaders outlining the impact of declining government aid, followed by trailblazing investors and founders sharing strategies for deploying private capital. The session will conclude with a collaborative discussion to identify actionable approaches others can replicate.
With perspectives spanning global institutions, regional investors, and on-the-ground founders, the session seeks to chart collaborative, scalable approaches for financing sustainable growth in a rapidly changing development landscape.
This event is part of Impact State of Mind - Investing in the Green Economy, a full day conference to catalyze action around the 2030 Sustainable Development Goals. View the full calendar here!
Note: When registering, please only select the sessions you plan to attend.
Session Overview:
1:30 pm - 2:00 pm ET: Keynote with Minh-Thu Pham
2:00 pm - 3:30 pm ET: Panels and Co-Creation Forum with Impact Hub New York Metropolitan Area
Panel 1: DFIs and the Green Economy
Featuring William Senyo, Jyoti Bisbey, Iulia Sandu, and George Stopczynski
Moderated by John-Paul Parmigiani
Panel 2: Private Capital in Developing Markets
Featuring Nicholas Bassey, Paloma Schackert, Javad Mushtaq, and Tim Burkly
Moderated by Liv Varghese
Co-Creation Forum with Panelists and Attendees
Session Details:
Keynote with Minh-Thu Pham:
We are delighted to welcome Minh-Thu Pham, co-founder and CEO of Project Starling and a leading voice in global governance and climate policy. With two decades of experience, including shaping the UN Sustainable Development Goals and Financing for Development agreements, she has built coalitions across governments, business, and civil society to advance global change. Currently a Princeton lecturer and scholar at Carnegie and the Liechtenstein Institute, Ms. Pham will reflect on how policy, capital, and collaboration can unlock climate finance for transformative impact.
The session includes a 20-minute keynote and 10-minute Q&A.
DFIs and the Green Economy with Impact Hub New York Metropolitan Area
The first part of the session will highlight a panel that sets the scene of the current paradigm related to the reduction of support from advanced economies and development agencies to advance the green economy transition in developing countries. This shift threatens to deepen human suffering, accelerate environmental degradation, undermine global climate goals, erode democratic progress, and impact health outcomes.
We'll unpack the following shifts:
Donors (bilateral and multilateral) increasingly emphasize that developing countries should raise their own revenues (through taxation, investment, and governance reforms) instead of depending on foreign aid. This is sometimes presented as building sustainability and sovereignty, but critics argue it leaves countries vulnerable if economic conditions are weak.
Western governments are redirecting resources away from traditional development aid toward strategic competition, especially in response to China’s Belt and Road Initiative, Russia’s global influence, and other security concerns. As a result, “aid” budgets are often reallocated to defense, migration control, and climate diplomacy rather than poverty reduction.
Many donor countries face domestic budget pressures (post-COVID debt, inflation, aging populations), which leads to cuts in foreign aid as a politically easy target.
There’s also a narrative of aid fatigue: after decades of investment, skepticism grows about aid effectiveness and corruption.
Panelists:
William Senyo of Impact Hub Accra, Ghana & Ingressive Capital
Jyoti Bisbey of The World Bank Group
George Stopczynski of Impact Investment Exchange (IIX)
Private Capital in Developing Markets with Impact Hub New York Metropolitan Area
The second part of the session will involve a panel of speakers that deliberates solutions to the challenges posed above, highlighting avenues capital may already be directed productively by investors and the private sector broadly in developing countries aligned with green economy goals - offering a blueprint for others to join efforts or emulate practices to fill the gaps.
We'll unpack here the Shift to Private Finance and Partnerships
Instead of grants, donors are promoting blended finance, impact investing, and private-sector-led development.
This reflects a paradigm where aid is no longer the main driver, but rather a catalyst to “unlock” private capital. Critics argue this favors projects with financial returns over social needs.
Increasingly, aid is being reframed as climate finance, with funds earmarked for mitigation and adaptation.
While climate aid is vital, it sometimes comes at the expense of basic development priorities (health, education, food security).
Panelists:
Nicholas Bassey of Millennium Challenge Corporation
Paloma Schackert of Ethical Apparel Africa
Javad Mushtaq of WE& Capital
Tim Burkly of Interclear
Co-Creation Forum with Panelists and Attendees
The third part of the session will bring together panelists and the audience to reflect on insights from the first two panels. Participants will synthesize key takeaways, discuss practical strategies, and collaboratively explore pathways for scaling private and public efforts to support the green economy in the face of declining government aid.
About our Hosts:
Impact Hub New York Metropolitan Area
Impact Hub New York Metropolitan Area is a 501(c)(3) nonprofit and part of the global Impact Hub network, dedicated to accelerating social and environmental innovation across the NYC metro region. Its mission is to harness the region’s rich ecosystem—spanning startups, nonprofits, research institutions, investors, and purpose-driven capital—to drive progress toward the 2030 Sustainable Development Goals. Through collaborative workspaces, programs, incubators, and ecosystem-building events, Impact Hub NYMA empowers changemakers to scale impactful solutions for both people and the planet.
Julis-Rabinowitz Center for Public Policy & Finance (JRCPPF)
The Julis-Rabinowitz Center for Public Policy & Finance at Princeton University promotes rigorous, interdisciplinary research and dialogue at the intersection of economic policy, financial markets, and governance. By connecting students, scholars, and practitioners, JRCPPF fosters a deeper understanding of how public policy and financial systems shape global outcomes, especially in moments of complex transformation, like the climate crisis. The Center supports student-led initiatives that challenge conventional thinking and explore innovative approaches to pressing global challenges.
Additional Partners:
Finpublica, Impact Capital Forum, BASIC-NY, Climate + Positive Investing Alliance, Center for Educational Innovation, Sustainability Investment Leadership Council (SILC), Triibe, Impact for Breakfast, and Impact Investment Exchange (iix)
Impact State of Mind - Investing in the Green Economy
Impact State of Mind - Investing in the Green Economy is a full day of groundbreaking content on the sidelines of UNGA80 designed to help investors, funders, and other stakeholders advance the impact of their work. Impact State of Mind is an initiative of Impact Hub New York Metropolitan Area to create events and conferences that that catalyze action around the 2030 Sustainable Development Goals to protect the environment and improve lives.