![]() If the ODA definition is changed, this will have knock-on effects on the international target for donors to spend 0.7% of their gross national income (GNI) as aid. "Business can bring much needed investment and innovation at a scale that can be transformational … It is sensible for us to work with business to make sure their plans help local communities," she said. This week, the UK development secretary, Justine Greening, is in Tanzania to launch a "high-level prosperity partnership", which aims to double by 2015 the number of British companies doing business in the country's renewable energy and agriculture sectors. Today, more donors are working in closer collaboration with private companies. This year, Mark Lowcock, permanent secretary of the UK Department for International Development, suggested discussions should look at how ODA could be better used to promote private sector flows. However, some donor countries argue that the current rules fail to account for the range of tools they use to help spur development in poor countries, such as guarantees where public money is used to mobilise private investment. Research from the Bristol-based group Development Initiatives suggests that at least 20% OECD aid never leaves the donor country – and is instead spent on activities at home, or put towards the cancellation or rescheduling of debts. "We could see a whole range of things included in a new definition that put the development and poverty eradication focus of aid at risk, such as harder loans, guarantees, etc," she added.Ĭivil society groups have complained for years that the current rules allow donors to count too much spending that never reaches poor countries. "But we know countries have different positions, and some are more keen than others to open the ODA definition."Īmy Dodd, co-ordinator for the UK Aid Network, said there were concerns that this process would merely water down the meaning of foreign aid. "It's too early to start guessing what the final result may be," said Jon Lomoy, director of the OECD's development co-operation directorate. The DAC is considering ideas on whether, and how, to change the official ODA definition, with the aim of setting concrete proposals by late 2014. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.įor technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (email available below). If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. You can help adding them by using this form. We have no bibliographic references for this item. It also allows you to accept potential citations to this item that we are uncertain about. This allows to link your profile to this item. If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. ![]() See general information about how to correct material in RePEc.įor technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact. ![]() When requesting a correction, please mention this item's handle: RePEc:oec:dcdkaa:5lmqcr2jgkjf. You can help correct errors and omissions. All material on this site has been provided by the respective publishers and authors.
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