In this blog, we draw on our newly published Finance for International Development (FID) measure, using the most up-to-date data now available (from 2018) to give an idea of the baseline efforts of the G20. We hope ministers and officials will use this information in considering the level of their and others’ financial commitments (given their income levels) and encourage a step up from the laggards—most obviously Argentina, Australia, Canada, Italy, Mexico, Russia, South Korea, and the United States.
CGD Policy Blogs
There is a lot of money being spent on official development assistance (ODA). The Organisation for Economic Co-operation and Development (OECD) confirmed recently that countries provided over $160 billion in ODA in 2020. But ten years on from the global agreement reached in Busan, South Korea to improve the quality of how development cooperation is delivered, what do we know about how well provider countries and multilateral agencies spend that money?
Among the many disparities and inequities that COVID-19 has shone a light upon, the chasm in health outcomes between rich and poor countries is being particularly sharply highlighted. While Israel, the US, the UK, and a handful of high- and upper-middle income countries are charging forward with their vaccination programmes, many of the poorest are left behind—sometimes to rapidly soaring infection rates, as in India. Universal health—that is, a basic level of health and nutrition achieved globally—seems a distant prospect.
Few would argue that collaboration and collective efforts across the multilateral development banks (MDBs) are not urgently needed. Yet while the logic and need are obvious, the actual extent of collaboration between MDBs is limited. Our recent paper explores how this gap in the international financial architecture might usefully be filled. It addresses what a new cross-MDB governing body might do and what it might look like.
Redesigning Global Europe: The EU’s Neighbourhood, Development, and International Cooperation Instrument
EU member states and the European Parliament’s Foreign Affairs and Development Committees finally approved the new Neighbourhood, Development, and International Cooperation Instrument (NDICI)—Global Europe. The instrument, worth €79.5 billion over the period 2021-2027, marks a profound transformation of EU development policy and spending.
It’s been almost a year and a half since the High-Level Group of Wise Persons published its report, setting out options for consolidating and streamlining the European development finance architecture. That report generated a sparring match between the two European development banks—the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) —as to which was better placed to become the new European Climate and Sustainable Development Bank (ECSDB)
In a paper and blog, the authors examine the distribution of aid among countries at different income levels and focus on the aid going to middle-income countries (MICs).
As the world looks to recover from the economic crisis induced by COVID-19, there is an enormous opportunity to choose a “green” recovery—one that sets the stage for sustainable growth over the medium and long term.
Prompted by the end of 2019—and the imminent launch of the US Development Finance Corporation—this edition of CGD’s DFC Monitor looks back at OPIC’s last five years of lending to identify lessons for its successor.
The big takeaway from the 2018 CGD Development Leaders conference was that all agencies, new and old, face similar opportunities and challenges—of relevance, responsiveness, communication, capability, and resilience—and there is much to learn from sharing experiences, especially at this time of profound change in the world of international development. CGD’s 2019 Development Leaders conference, co-hosted with the Asian Infrastructure Investment Bank (AIIB), in Beijing, China, will again bring together the community of Heads and Directors of development cooperation in aid agencies and ministries from around the world.