The Future of Aid: towards global public investment?
UNU-IIGH ed. The Future of Aid: towards global public investment? 2020/03/17 Virtual. Kuala Lumpur, malaysia: UNU-IIGH, 2020.
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Sub-type Conference proceedings Author UNU-IIGH Title of Event The Future of Aid: towards global public investment? Date of Event 2020/03/17 Place of Event Virtual Organizer UNU-IIGH
Wilton Park
Joep Lange Institute
Coalition for Global Prosperity
Development Initiatives
Equal International
OECD Development CentrePublication Date 2020-03-17 Place of Publication Kuala Lumpur, malaysia Publisher UNU-IIGH Pages 8 Language eng Abstract This virtual discussion in the Wilton Park series on the Future of Aid is taking place at a time of unprecedented crisis and challenge to the global aid and humanitarian system as a result of the COVID-19 pandemic. Aid continues to be important and relevant. Global public spending and investment is considered a very important part of global cooperation going forward and more is needed. It is unique and does things other kinds of money can't do, including as a catalyst for change to reduce poverty and inequality and tackling some of the global challenges such as pandemics and climate change. However, there is a consensus that a new and updated conceptual framework for aid is required. It is no longer the case that there is one group of countries giving aid and another receiving aid. What form can or should aid, as concessional public finance, be best taken in the future? The current COVID-19 pandemic will affect all countries and not just those currently eligible for Official Development Assistance (ODA). The global response to COVID-19 provides the opportunity to reshape the thinking about global solidarity, the framework, objective mechanisms and the governance of aid. The COVID-19 pandemic also brings the concept of Global Public Investment (GPI), (which was presented and discussed during this dialogue), to the forefront of the aid debate and there is support for this approach. The international architecture for development financing needs to adapt to be able to respond to the anticipated slower global growth and reversal of poverty reduction; climate emergency and ever-increasing need for humanitarian aid; shifts in demographic and the technological/ digital revolution and its implications for future of consumption, production and work. Keyword Aid effectiveness
Health investment
COVID-19 pandemic
ODACopyright Holder UNU-IIGH Copyright Year 2020 Copyright type Creative commons -
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