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Development Co-operation Report 2016

The Sustainable Development Goals as Business Opportunities

image of Development Co-operation Report 2016

The face of development has changed, with diverse stakeholders involved – and implicated – in what are more and more seen as global and interlinked concerns. At the same time, there is an urgent need to mobilise unprecedented resources to achieve the ambitious Sustainable Development Goals (SDGs). The private sector can be a powerful promotor of sustainable development. Companies provide jobs, infrastructure, innovation and social services, among others. Increasingly, investments in developing countries – even in the least developed countries – are seen as business opportunities, despite the risks involved. The public sector can leverage the private sector contribution, helping to manage risk and providing insights into effective policy and practice. Yet in order to set the right incentives, a better understanding is needed of the enabling factors, as well as the constraints, for businesses and investors interested in addressing sustainable development challenges.

The Development Co-operation Report 2016 explores the potential and challenges of investing in developing countries, in particular through social impact investment, blended finance and foreign direct investment. The report provides guidance on responsible business conduct and outlines the challenges in mobilising and measuring private finance to achieve the SDGs.  Throughout the report, practical examples illustrate how business is already promoting sustainable development and inclusive growth in developing countries. Part II of the report showcases the profiles and performance of development co-operation providers, and presents DAC statistics on official and private resource flows.  

 

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Iceland

In 2015, Iceland delivered USD 39 million in net ODA (preliminary data), which represented 0.24% of its gross national income (GNI) and an 11.3% increase in real terms from 2014. Iceland is committed to achieving 0.7% ODA/GNI, and this commitment has been accompanied by an increase in official development assistance (ODA), both in terms of volume and as a share of GNI since 2012. Iceland is the 17th largest Development Assistance Committee (DAC) provider in terms of ODA as a percentage of GNI, and the 28th in terms of volume. Iceland untied 100% of its ODA (excluding administrative costs and in-donor refugee costs) in 2014, compared to the DAC average of 80.6%. Its ODA was also fully untied in 2013 and 2012. The grant element of total ODA was 100% in 2014. At present, data on other official flows, private grants (funds raised by non‑governmental organisations and foundations) and private flows at market terms from Iceland to developing countries are not available.

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