The Importance of Non-Concessional Loans

Borrowing from private investors does not effectively help countries in fighting poverty, promoting equality, and investing in healthcare. Public-private partnerships endorsed by the World Bank and IMF create long-term obligations similar to debt servicing. In the past, least developed countries borrowed on concessional terms from multilateral financiers and donors, but with stringent conditions like structural adjustment. The financial crash of 2000-2009 changed the landscape.