The complexity of the international development-finance architecture is evolving as new actors and instruments enter the arena. This throws into question the capacity of aid to deliver development. This chapter highlights the current disorder and inconsistencies in the multilateral development finance system and the associated challenges: duplication, mission creep, loss of leverage and the heavy burden put on recipient-country administrations. To promote effective and democratic ownership of development finance, it identifies avenues for reform of the current system. It suggests streamlining the multilateral division of labour and country-based delegated co-operation arrangements.