Why did USAID give $68+ million to the World Economic Forum?
Since the Department of Government Efficiency leader Elon Musk threatened to shut down the US Agency for International Development (USAID) last Monday, there has been a flurry of queries regarding its “wasteful” expenditures, where money was reportedly channeled to companies, businesses, and organizations like the WEF, without accountability.
Citizen journalist on X, Kanekoa the Great, has raised the alarm on several questionable instances where the US Agency for International Development (USAID) spent taxpayer’s funds, including a $68.3 million funding to the World Economic Forum.
One Reddit user listed programs that could have been funded by USAID, which include boosting agriculture in Sub-Saharan Africa. The initiative reportedly generated $2.3 billion in private-sector investment, benefiting over 10 million farmers and creating nearly 88,000 jobs.
Another project mentioned was the Global Alliance for Trade Facilitation, purported to have received $13 million from 2015 to 2022 to help reduce global trade barriers and foster economic growth. The Enterprises for Development, Growth, and Empowerment (EDGE) Fund was also planned to receive $50 million to mobilize private sector resources for global development challenges through public-private partnerships.
The USAID does not account for most of its expenditure, so it’s rather more speculative than true to say the funds really went towards the initiatives.
