Setting the principles to underpin public investment for global ‘commons’ in a post-COVID world
UNU-IIGH ed. Setting the principles to underpin public investment for global ‘commons’ in a post-COVID world 2020/07/15 Virtual. Kuala Lumpur, malaysia: UNU-IIGH, 2020.
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Sub-type Conference proceedings Author UNU-IIGH Title of Event Setting the principles to underpin public investment for global ‘commons’ in a post-COVID world Date of Event 2020/07/15 Place of Event Virtual Organizer UNU-IIGH
Wilton Park
Joep Lange Institute
Coalition for Global Prosperity
Development Initiatives
Equal International
OECD Development CentrePublication Date 2020-07-15 Place of Publication Kuala Lumpur, malaysia Publisher UNU-IIGH Pages 4 Language eng Abstract In the post-COVID era some of the previously assumed principles for international public funding spent as development assistance / ‘aid’ are proving not ‘fit for purpose’. This virtual Wilton Park discussion, the third in the ‘Future of Aid’ series, focused on what principles would be more appropriate in this new context of shared global challenges to finance ‘global public goods or commons’. Whilst some of the principles from the Paris and Busan ‘aid effectiveness’ era still resonate in the post-COVID climate challenged world, a number of new principles are proposed which will need further discussion, agreement, and buy-in, including from the public. Some proposed principles could be taken from elsewhere in the international ecosystem. Such principles might be agreed around: ambition; universality; mutual benefit; cross-border; human rights; localisation/sub-national; complementarity; building (cap)abilities; sub-national and reparation; effective governance; and ambition. They should support all countries, traditional recipients and donors in the old language, to share scarce resources in a form of ‘global public investment’ (GPI) to meet national interests and cross-border challenges. Some are potentially radical, others controversial. At the heart of this discussion is what are the new principles for governments and stakeholders around how public finance should be shared in future (North and South, South and South, South and North) to transfer resources? Keyword Aid
Aid effectiveness
COVID-19 pandemic
Development assistance
ODACopyright Holder UNU-IIGH Copyright Year 2020 Copyright type Creative commons -
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