Many of the world’s leading foreign aid donors broke years of deadlock last week to agree to new rules on how to report the use of private sector instruments — loans to the private sector, credit guarantees, equities, and mezzanine finance — toward their aid spending.
In typical fashion, the Organisation for Economic Co-operation and Development’s Development Assistance Committee chair Carsten Staur announced the news via a LinkedIn post. This week, the three relevant documents were made public without any accompanying press release or further explanation. (Read the documents here, here, and here.)
Staur wrote that the deal “improves incentives for DAC members’ engagement with the private sector and sets a new international standard on transparency and accountability of development finance.” But not everyone is buying it.
About the author
Vince Chadwickvchadw
Vince Chadwick is a contributing reporter at Devex. A law graduate from Melbourne, Australia, he was social affairs reporter for The Age newspaper, before covering breaking news, the arts, and public policy across Europe, including as a reporter and editor at POLITICO Europe. He was long-listed for International Journalist of the Year at the 2023 One World Media Awards.
