Post AV0uVGJqPhevsXmwGe by Joaquincastrotx@mastodon.social
 (DIR) More posts by Joaquincastrotx@mastodon.social
 (DIR) Post #AV0uV5UmegsEJHp1I8 by Joaquincastrotx@mastodon.social
       2023-04-25T14:38:25Z
       
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       U.S. foreign aid should go to innovative solutions that save lives and 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🧵
       
 (DIR) Post #AV0uV72qtVif7Elk24 by Joaquincastrotx@mastodon.social
       2023-04-25T14:38:43Z
       
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       1⃣ Kickstart a Global Aid Innovation PlanFIGDA 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.
       
 (DIR) Post #AV0uV8z1ghqb7wziLY by Joaquincastrotx@mastodon.social
       2023-04-25T14:39:01Z
       
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       2⃣ 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.
       
 (DIR) Post #AV0uVAYrow6w1Olqqm by Joaquincastrotx@mastodon.social
       2023-04-25T14:39:50Z
       
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       3⃣Codify 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.
       
 (DIR) Post #AV0uVC7zzno6seDQFU by Joaquincastrotx@mastodon.social
       2023-04-25T14:40:06Z
       
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       4⃣Reward Proven SolutionsFIGDA 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.
       
 (DIR) Post #AV0uVEg6VyHCn0Bgga by Joaquincastrotx@mastodon.social
       2023-04-25T14:41:53Z
       
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       5⃣Restart U.S. Contributions to the Global Innovation Fund (GIF)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.
       
 (DIR) Post #AV0uVGJqPhevsXmwGe by Joaquincastrotx@mastodon.social
       2023-04-25T14:42:36Z
       
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       6⃣ Expand Sub-Awards for Effective ProgramsFIGDA 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.
       
 (DIR) Post #AV0uVUL4HwxNMOT77Q by Joaquincastrotx@mastodon.social
       2023-04-25T14:42:56Z
       
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       7⃣Promoting Joint Innovation with DFCFIGDA 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.
       
 (DIR) Post #AV0uVa7om7vHJ2JcIa by Joaquincastrotx@mastodon.social
       2023-04-25T14:43:15Z
       
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       8⃣Creating New Innovation AuthoritiesFIGDA 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.
       
 (DIR) Post #AV0uVcfDKvpDBBxJdA by Joaquincastrotx@mastodon.social
       2023-04-25T14:44:05Z
       
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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 ⤵️https://www.vox.com/2023/4/25/23692700/usaid-foreign-aid-joaquin-castro-young-kim
       
 (DIR) Post #AV0uVhBGXhq9Bkyy92 by Joaquincastrotx@mastodon.social
       2023-04-25T14:43:39Z
       
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       9⃣ Establish a Recovery of Funds AuthorityFIGDA 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.