This article is part of The Future of Global Development, a series for Devex Executive Members that explores what development leaders think of the industry’s top issues.
Weighed down by intense fiscal pressures at home, many donor governments have been tightening their aid spending since the global financial crisis. After rising sharply in the decade following the adoption of the Millennium Development Goals in 2000, bilateral official development assistance has largely flatlined over the past five years.
At the same time, international development giving by the world’s corporations, by most accounts, has rebounded strongly. In 2011, global development giving from U.S. corporations alone stood at $7.6 billion — more than the ODA budget of Norway or the Netherlands.