Philanthropy can do what commercial capital cannot by funding bold, ambitious ideas with “patient” capital, giving beneficiaries the time they need to test and learn for innovation.

“It can be catalytic and crowd in other forms of capital, therefore making the pool of accessible funds larger, which can magnify the impact,” says development economist Ashleigh Fynn Munda, the new head of Oppenheimer Generations Philanthropies (OGP)...

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