Financing Development 2008

Whose Ownership?

image of Financing Development 2008

Aid alone cannot finance development; bringing in fresh sources of finance is essential. The emergence of a multiplicity of new financing options is good news for developing countries, but it also raises challenges. The authors in this stimulating book assess the changing landscape of international development finance from a global and a developing-country perspective. The result is a vast range of policy implications for donor and recipient alike. In an easily digestible format, the book provides recommendations on innovative policy mechanisms, on the use of both grants and loans in development finance, and on the challenges of managing diverse financial flows at country-level.


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Broader Ownership for Development

OECD Development Centre

The first of the five key principles in the 2005 Paris Declaration on Aid Effectiveness is “ownership”. This principle implies recipient-country control of aid-financed development strategies and policies. Yet implementing ownership has proved both difficult and controversial, caught between donors’ need to ensure that public money is well spent and recipients’ demands for policy autonomy. Issues of conditionality, knowledge generation, socially inclusive implementation and good monitoring dominate the debate. This chapter provides an ample menu of recommendations to resolve them.

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