At a time when traditional approaches to development are already coming under scrutiny, austerity-driven cuts in development aid budgets have raised questions about the long-term impact of the global economic downturn on development. But if austerity will certainly pose a challenge to development, it might also present opportunities to rethink and better coordinate approaches. And even as traditional sources of development financing diminish, new technologies such as mobile banking and crowd-sourced financing are offering promising alternatives.
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