The Inception of American Foreign policy and International Development Financing Mechanisms(1951-1960
The international development financing mechanism stands as a core topic during the brewing stage of the international development agenda.The United Nations Special Fund(UNSF),the International Finance Corporation(IFC),and the International Development Association(IDA)collectively formed the foundational framework of the international development financing mechanism in its nascent stage.Anchored in its robust economic prowess and dominant position within the post-war international economic order,coupled with Cold War rivalry and competitive strategies,the United States emerged as a pivotal factor influencing the negotiation process and opening up a path of the international development financing mechanism.Motivated by political considerations to counter the UNSF and engage in strategic competition with the Soviet Union during the Cold War,the U.S.devised various policy plans such as the"September 26th Memorandum,"the"November 2nd Plan,"and the"Anderson Program,"which propelled the establishment of the UNSF,IFC,and IDA.In this sense,the international development financing mechanism in its initial phase was a product of U.S.policy design and diplomatic efforts,reinforcing America's dominant position in the post-war international economic order and signaling its policy intention to compete strategically with the Soviet Union in the developing world.
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