Post 2015: Global Action for an Inclusive and Sustainable Future

• South-South Cooperation resources should
ideally be better harnessed to support a new
global development framework. SSc provides
additional choice and valuable opportunities for
partner countries, but there is less knowledge
about its specific development contribution.
Greater transparency regarding developmentrelated
SSc would facilitate complementarity
with other sources of development finance and
enhance partner governments’ policy space.
• Aid and development effectiveness lessons
from the paris to busan HlF process can be
applied to all forms of development finance.
moreover donors can gain credibility by
applying these standards to non-aid instruments
and approaches (e.g. export credits from
oEcD countries). Increased transparency and
predictability of all international financial flows
is an important precondition to increasing their
impact on achieving development goals.
• Innovative financing remains limited in
volume, but pilot projects have demonstrated
the potential of approaches such as blending,
special purpose bonds or global taxes. overall,
there is a need for harmonisation, simplification
of delivery mechanisms, needs-based allocation,
coherence between the use of oDa and other
sources of development finance. a characteristic
of the development finance landscape is that
international financing is less dominated by
north–South flows but is becoming more
universal (Severino, 2012).
• International financial stability is vital in order
to ensure and sustain development gains. the
global financial and economic crisis has reversed
some of the progress made towards achieving the
mDGs. any post-2015 development framework
would be much assisted by a significant
commitment to reform the international financial
and monetary system. the volatility of public and
private international finance is a major problem
for poorer countries as it undermines their policy
space and ability to take forward their national
development policies. richer countries could
help by increasing the predictability of oDa and
other support and by exerting better controls
on private international financial flows. taking
strong measures to curb illicit flows would be
particularly helpful in enabling governments
to mobilise domestic resources, including via
taxation.
Integrating these sources and policies of development
finance in a post-2015 agenda should be based
on improving effectiveness and complementarity.
It will be important to explore alternative and
complementary frameworks for recording flows of
development finance and cooperation activities that
may not fit conventional definitions of oDa and
other development assistance. more comprehensive
reporting on development finance should be
considered, including reflecting on the role of oDa
(vanheukelom et al., 2012; oEcD/Dac, 2012a).
any new framework should ensure that those
providing development finance are fully committed
to transparency and accountability.
10.4.5 Encouraging international
collective action
advancing a new global framework for development
involves improving international cooperation
and collective action. In a ‘beyond aid’ post-2015
context, a framework for international cooperation
will need to bring together a broad range of actors,
instruments and policies, of which only a minority
are predominantly development-oriented. While
the formulation of a new development agenda
might present an opportunity to set norms for
global cooperation in a development-friendly
way, there are also obstacles to gearing different
instruments towards the achievement of inclusive
and sustainable development.
the two main challenges for collective action
are the coordination of international actors and
poSt-2015: Global actIon For an IncluSIvE anD SuStaInablE FuturE
Advancing a new
global framework
for development
involves
improving
international
cooperation and
collective action.
213