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CGD's Masood Ahmed speaks with Development Leaders Conference cohosts Siti Nugraha Mauludiah from the Ministry of Foreign Affairs in Indonesia and Bård Vegar Solhjell of Norad about the differing experiences of traditional and emerging donors, the challenges of bridging gaps between sectors and priorities, and how the development community can share solutions more effectively.
Geopolitical risks are rapidly converging, making the world more crisis-prone and precarious. Faced with a near economic collapse in some low and lower middle-income countries, the escalating devastation of climate-related disasters aggravating existing vulnerabilities, and a sharp rise in conflicts that displace people and decimate economies, financing needs in developing countries have soared.
International finance is under considerable pressure: originally prioritized toward economic growth in poorer countries, it is now meant to deliver broad-based sustainable development including global public goods such as climate and pandemic response to say nothing of refugee hosting costs. In a future of slower growth for richer countries, will there be sufficient finance to support these goals, and where will it be directed? Based on a paper published today, I discussed this question at CGD’s Development Leaders Conference in Oslo last week.
The rapid evolution of the development landscape, amid ongoing crises such as the war in Ukraine and climate change, presents profound challenges for all development actors. The various challenges intersect in unprecedented ways, amplifying the complexities faced by development cooperation providers. It also requires a revaluation of their priorities and approaches and a better understanding of the different actors’ ways of working.