Originally published in BILLIONAIRE Magazine, this OpEd by TAI Executive Director Michael Jarvis makes a compelling case for bold, long-term investments in civil society-led systems change. As official aid declines, Jarvis urges the world’s wealthiest philanthropists to step up—not out of charity, but as a strategic investment in resilient and inclusive development.
As traditional foreign aid retreats, a dangerous void is emerging. With the U.S. slashing development assistance and other donor nations following suit, critical services in some of the most vulnerable regions on earth are grinding to a halt. Civil society organizations, often the last line of defense for communities, are facing closure, not due to failure, but due to an absence of funding.
This is more than a humanitarian concern. It is a profound threat to global stability and long-term economic viability. For those who do business across borders, who invest in emerging markets, who benefit from global connectivity, this moment demands attention. Fragile states and fractured institutions don’t just create suffering, they create risk.
When governments are forced to choose between paying off unsustainable debt and funding education, infrastructure, or public health, they risk popular discontent, declines in citizen trust and market instability. No investor, no matter how large or far removed, is immune from these ripple effects.
That’s why today’s most visionary philanthropists are not only giving, they are investing in systems change.
Supporting civil society groups that work on the frontlines of governance, transparency, and accountability is one of the highest-impact moves a philanthropist can make right now. These organizations have the local credibility, the institutional knowledge, and the agility to navigate complexity and drive reform from within.
Take the issue of sovereign debt. Today, 54 countries are already in crisis, and another 57 are at risk. Servicing debt consumes national budgets, squeezing out essential services. But philanthropy has the power to shift this dynamic by supporting advocacy for fairer debt terms, by backing movements that link new borrowing to governance reforms, and by amplifying efforts that hold leaders accountable for how financing is deployed to meet development goals.
Tax reform is another arena ripe for innovation. Consider Tax Inspectors Without Borders, which helped countries increase tax assessments by $6 billion in just one year. That’s $6 billion redirected into schools, roads, and hospitals. Philanthropy can turbocharge this work by supporting not only resource mobilization but also the oversight mechanisms needed to ensure those resources are used responsibly.
The work of Janaagraha in India, of Accountability Lab across Africa, Asia, and Latin America, and of other locally-driven efforts show that by empowering citizens and strengthening institutions, we can build more stable and prosperous societies while helping to safeguard the global economy.
This isn’t about being idealistic. It’s about being strategic.
Many of today’s leading philanthropists already understand this. Nicolas Berggruen, for example, has invested heavily in practical governance solutions, recognizing that prosperity without integrity is unsustainable. The Chandler Foundation has placed good governance at the core of its investment philosophy, knowing that fair markets require strong institutions. These leaders aren’t chasing headlines, they’re shaping the systems of tomorrow. They take advantage of philanthropic networks such as TAI and Co-Impact to align efforts and find impactful partners. We stand ready to support family offices around the world to do the same.
In an era when environmental, social and governance (ESG) principles are increasingly politicized, this form of quiet, catalytic giving may be the most effective way forward. It sidesteps the noise and goes straight to the root causes of instability—funding the people and institutions who make societies work.
And now, with the Fourth International Conference on Financing for Development taking place this June in Spain, there is an opportunity for bold leadership. The world’s nations will gather to decide how we fund development for the next decade. This is a moment not just for governments, but for private wealth to step forward, making ambitious commitments and strategically aligning official aid, debt financing and philanthropic contributions.
Supporting civil society led systems change is not charity, it is insurance. It is long-term thinking, unlocking creative resources to meet local development priorities. It is an investment in the resilience of the very environments where business is conducted, capital is deployed, and legacies are built.
This is the time to act. To fund what matters. To lead where others are retreating. Because in this post-aid world, the future belongs to those who understand that stability is not just a public good, but essential for investment in the future of global markets.