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CPD sees lack of accountability in dev financing

  • Staff Correspondent
  • 14 December, 2022 12:00 AM
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CPD sees lack of accountability in dev financing

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Distinguished Fellow of Centre for Policy Dialogue (CPD) Dr Debapriya Bhattacharya said that in the recent past, the international development cooperation landscape has undergone significant changes, including changes in the profiles of recipients and providers of development finance.

Many recipients are now from low middle income countries (LMIC), and many are graduating from the Least Developed Countries (LDC) category, he said.

The evolving situation is also witnessing the rise of new providers such as private philanthropy and Southern institutions such as the Asian Infrastructure Investment Bank (AIIB) and the African Development Bank (AfDB). 

He opined that due to the post-COVID-19 aftermath, the fallout from the Ukraine war and the looming global recession, there has been a palpable decline in the political traction for foreign aid in provider countries.

Dr. Debapriya Bhattacharya was speaking on the first day of the 2022 Effective Development Cooperation Summit in Geneva, Switzerland on Monday.

He maintained that the GPEDC agenda is based on the grand assumption that good processes will inevitably lead to good results.

However, experience shows that this is more complex than that and is greatly dependent on contextual realities at the country level.

CPD distinguished fellow said that the resultative inclusive stakeholder partnership in the recipient countries is critical for effective development cooperation

Dr. Debapriya Bhattacharya noted that the GPEDC principles were still relevant but needed to be revitalised and reenergised by up taking new content and being responsive to evolving realities. He emphasised the necessity for development cooperation to build on new evidence and              knowledge to make it more relevant and robust.

Towfiqul Islam Khan, Senior Research Fellow, CPD delivered the keynote presentation during the session.

The keynote presentation was based on the findings of a global research project, anchored in CPD, and conducted in six countries across Asia, Africa and Latin America.

He said that there is a lack of accountability mechanisms for countries providing development finance. The lack of familiarity with regard to the GPEDC agenda and its processes in both provider and recipient countries was also pointed out as a major hurdle.

 Khan highlighted that there was a lack of shared understanding between the providers and the recipient countries’ key stakeholders regarding the design of results indicators and the process of attaining sustainable development outcomes.

 However, he pointed out that the extent of inclusive partnership required to reach a consensus on the design of results indicators was largely dependent on the democratic accountability prevalent within the recipient country.

 Moreover, he reflected that the extent of ownership of key stakeholders within the scope of foreign development financing was largely concentrated at the project design level and declined down the process chain.

 The session was also addressed by Dr Rachel Gisselquist, Senior Research Fellow, UNU-WIDER, Karla de Palma, General Director of the International Cooperation Agency of El Salvador (ESCO),  Laura Aghilarre, Deputy Director General for Development Cooperation, Ministry of Foreign Affairs, Italy and Blanche Simonny Abegue, Regional Representative, Dynamique OSCAF-Gabon.

 The 2022 Effective Development Cooperation Summit is being held in Geneva between 12-14 December 2022.