SPECIAL FEATURE
OPEC Fund Development Forum 2023
developing countries’ priorities should drive the need for development aid and not the other way around. Ownership also provides incentives for countries’ institutions and private players to build the necessary capacity to be able to receive and use development aid e ff ectively and e ffi ciently. Recognizing the importance of country ownership for development e ff ectiveness, in 2011 the Busan Partnership for E ff ective Development Co-operation, 6 convened by the OECD- DAC, established four principles: (i) countries should define their own development model; (ii) sustainable impact should be in the center of any policy-making e ff ort; (iii) development cooperation must be transparent and accountable to all citizens, and (iv) development depends on the e ff ective involvement of all actors. 7 All forms of development aid, which includes both public and private development finance and technical
The OPEC Fund Development Forum 2023 featured thought-leaders from all over the world. Speaking on stage and in one-on-one interviews, they shared their latest views
on various aspects of development and climate action – from tapping new resources to reform of the financial system.
cooperation, should be bound by these four principles and, together, they should address the most pressing development challenges. 8 Many development challenges are common among developing countries. The Sustainable Development Goals (SDGs), defined by the United Nations
“Everybody has a role to play” OFQ : What are the most pressing development challenges? How can South- South and Triangular cooperation address those challenges? Dima Al-Khatib: In the aftermath of the COVID-19 pandemic the countries of the Global South are su ff ering from many development challenges, ranging from low health resilience to financial debt to socioeconomic issues. It is extremely important that the OPEC Fund for International Development is convening these forums to gather the various development actors and the di ff erent actors in development finance — because everybody has a role to play. South-South cooperation is an innovative mechanism of solidarity among countries, but it needs to be financed. OFQ : Why is targeting net zero without a Just Transition not an option for the climate? DAK: In recent years around 90 percent of natural disasters have been attributed to climate change. That means we need to talk about building resilience and strengthening institutions. Everybody has a role to play, so we also need to talk about inclusion and the ability of the countries of the South to negotiate on an equal footing with their counterparts in the North. Ultimately, we need to equip developing countries not only to pursue the Just Transition but actually achieve it. Dima Al-Khatib Director of the United Nations O ffi ce for South-South Cooperation (UNOSSC)
in 2015 (see box, below left) provide a high-level list of some of the most pressing development needs that a ff ect developing countries and vulnerable populations around the globe (see pages 40-45).
PHOTO: Tong_stocker /Shutterstock.com
PHOTO: Hamza Makhchoune/Shutterstock.com; ILLUSTRATION: MicroOne/Shutterstock.com
6 https://www.oecd.org/dac/e ff ectiveness/busanpartnership.htm 7 https://e ff ectivecooperation.org/landing-page/e ff ectiveness-principles
8 This includes not only o ffi cial development assistance (ODA), but non-ODA climate finance, other o ffi cial flows, South-South and triangular cooperation, funds and blended public/private finance, civil society actions and some non-financial co-operation including policy measures and private sector engagement (European Comission). 9 https://sdgs.un.org/goals
11
Powered by FlippingBook