Joaquin Castro
A
US foreign aid should go to innovative solutions that save lives & transform communities.

Today, I'm introducing the Fostering Innovation in Global Development Act (FIGDA) with Rep. Young Kim to give USAID the tools to prioritize innovation in foreign aid.

Here's what FIGDA does🧵
10:19 AM - Apr 25, 2023
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Joaquin Castro
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1. Kickstart a Global Aid Innovation Plan

FIGDA requires USAID to create a global strategy to integrate effective ideas across its programs, with specific plans to prioritize innovation within USAID's Country and Regional Development Strategies.
10:21 AM - Apr 25, 2023
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Joaquin Castro
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2. Establish a USAID Chief Innovation Officer (CIO) and an innovation fellowship program to drive the innovation agenda within USAID.

Innovation fellows will start in the office of the CIO and then spread out across USAID to promote innovation in all areas of its work.
10:21 AM - Apr 25, 2023
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Joaquin Castro
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In response to Joaquin Castro.
3. Codify Development Innovation Ventures (DIV).

USAID's DIV program invests in breakthrough solutions to the world's toughest development problems. Establishing DIV as a permanent entity within USAID will help the agency do more good at a fraction of the usual cost.
10:21 AM - Apr 25, 2023
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Joaquin Castro
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In response to Joaquin Castro.
4. Reward Proven Solutions

FIGDA requires USAID to identify evidence-based solutions that improve development outcomes and then deploy these proven solutions in countries and areas where they can make the most difference.
10:22 AM - Apr 25, 2023
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Joaquin Castro
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5. Restart U.S. Contributions to the GIobal Innovation Fund

The U.S. and partner governments established GIF to support innovation in foreign aid, but the U.S. hasn't contributed in years. FIGDA would let USAID restart contributions to promote innovation with our global partners.
10:22 AM - Apr 25, 2023
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Joaquin Castro
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In response to Joaquin Castro.
6. Expand Sub-Awards for Effective Programs

FIGDA quadruples the maximum fixed amount sub-award for innovative aid projects, allowing USAID to direct more funding to proven solutions that generate better returns for taxpayer dollars.
10:23 AM - Apr 25, 2023
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Joaquin Castro
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In response to Joaquin Castro.
7. Promoting Joint Innovation with DFC

FIGDA authorizes USAID to enter into agreements with the Development Finance Corporation to carry out joint innovation projects with tools like innovation authorities, blended finance, and fixed payment rates for good outcomes.
10:23 AM - Apr 25, 2023
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Joaquin Castro
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In response to Joaquin Castro.
8. Creating New Innovation Authorities

FIGDA allows USAID to provide flexible results- and milestone-based funding to support the expanded use of innovation with tools like grants, contracts, advanced market commitments, and prizes.
10:24 AM - Apr 25, 2023
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Joaquin Castro
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In response to Joaquin Castro.
9. Establish a Recovery of Funds Authority

FIGDA authorizes USAID to require recipients to return a portion of the funds they receive – allowing the agency to recoup investments from successful projects and pursue new creative avenues for supporting innovation.
10:24 AM - Apr 25, 2023
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Joaquin Castro
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To advance these initiatives, FIGDA authorizes $45M annually for innovation at USAID – giving the agency the resources to invest in groundbreaking new ways to improve the lives of the world’s neediest people.

Read more about our bill from Vox: ⤵️
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10:28 AM - Apr 25, 2023
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