The use of challenge funds to promote economic and social development continues to grow, but has been the subject of relatively little research. This paper develops a definition of what challenge funds are and how they differ from other development funding mechanisms, taking into account their...

International aid is often analysed as if it was a homogeneous product exclusively distributed between a relatively small numbers of public agencies. In contrast, this paper contributes to thinking about aid as a quasi-market with many different suppliers, users, channels, products and brands....