Nobel laureate promotes venture capital approach to development finance

News May 14, 2025 / By: Ann Danaiya Usher

Michael Kremer, the American economist who won the Nobel Prize in Economics in 2019, wants donors to invest in venture capital funds with a development purpose. Their impacts, he says, can be huge. One such fund, co-founded by Kremer and financed by USAID, was recently closed down by the Trump administration.

Michael Kremer.jpg — Michael Kremer, University of Chicago economist. (Photo: Fartein Alexander Danevig Rudjord / Norad)

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