8 October 2014
OECD Development Co-operation Report Assesses Financing for Sustainable Development
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“There are many sources of financing available to eradicate poverty and spur sustainable growth,” argues the Organization for Economic Co-operation and Development (OECD)'s Development Co-operation Report 2014.

The yearly report provides ideas and recommendations on how to mobilize necessary resources to tackle the post-2015 Sustainable Development Goals (SDGs).

OECD_NEW7 October 2014: “There are many sources of financing available to eradicate poverty and spur sustainable growth,” argues the Organization for Economic Co-operation and Development (OECD)’s Development Co-operation Report 2014. The yearly report provides ideas and recommendations on how to mobilize necessary resources to tackle the post-2015 Sustainable Development Goals (SDGs).

This year’s Development Co-operation Report, titled ‘Mobilizing Resources for Sustainable Development,’ is the second in a trilogy of reports (2013-2015) on ‘Global Development Co-operation Post-2015: Managing Interdependence,’ which are designed to prepare for 2015 and beyond.

Official development assistance (ODA) is increasing, according to the report. It highlights, inter alia: the UK’s fulfillment of the international target of 0.7% of national income as development assistance; Turkey’s 30% increase in foreign development co-operation spending; and a world record by the United Arab Emirates (UAE), which spent 1.25% of its national income on development assistance. The report emphasizes that smart, strategic ODA remains critical for least developed countries (LDCs) and fragile states, which have limited capacity to access financing to fund education, health services and infrastructure, and suggests a target of directing 50% of ODA to the poorest and most fragile countries. The report also highlights the role of ODA in: making investment attractive in high-risk situations; helping countries raise domestic resources; and supporting policy reform in investment and trade.

Beyond ODA, the report discusses additional resources for financing the SDGs, including: south-south cooperation, particularly from Arab nations, Brazil, China, Mexico and Turkey; foundations; direct giving; and social business.

The report recommends, inter alia: developing a new metric to complement the ODA measure that reflects broader financial flows for development; increasing domestic resources, particularly tax revenue; reducing transfer costs on remittances; and decreasing losses from corruption, money laundering and tax evasion. It highlights the role of green investments for development, explaining that renewable energy investments and climate adaptation measures support and stimulate development. The report also underscores cooperation and policy coherence as key for achieving the SDGs.

The report includes ‘In My View’ opinion pieces on a range of topics by UN officials and development experts.

OECD launched the report on 7 October 2014, at its Development Assistance Committee (DAC) Senior Level Meeting, in Paris, France. Additional launches will take place at the Overseas Development Institute (ODI) in London, the UK, and at the Center for Global Development in Washington, DC, US. [Report Website] [Publication: Development Co-operation Report 2014: Mobilizing Resources for Sustainable Development] [IISD RS Guest Article by DCR Contributing Author Philippe Douste-Blazy]

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