With the US Government still gripped by a budgetary stalemate, it seems only fitting that the issue of money tops this week’s global development agenda. With the World Bank and IMF Annual Meetings taking place in Washington DC, the Sixth High-level Dialogue on Financing for Development happening at the UN and the Intergovernmental Committee of Experts on Sustainable Development Financing already well underway it really is time to take a detailed look at the books.
As our recent report Investments to End Poverty outlines a future development financing framework will need to mobilise significant financial resources in innovative ways to ensure a sustainable future for all. It is essential that discussions consider the entire resource landscape and the varying opportunities to mobilise resources in different contexts.
Over the next few weeks and months, we’ll be making the case for the Post-2015 Development Agenda to take into account some basic principles to help guide the negotiations, in short recognising that:
- The scale and diversity of international resources has grown rapidly.
- Resources flow both ways and the impact of outflows must be taken into account.
- Domestic resources are also growing, but remain low in many developing countries.
- Official development assistance (ODA) remains vital for countries with the least domestic resources.
- Much better data and access to information on wider resource flows is needed.
Click to enlarge
You can read more about the above in our Briefing for the World Bank Annual Meetings