Global Summit Addresses the Impact of Financial Crisis on Aid Effectiveness

Representatives of the International Monetary Fund, World Bank, World Trade Organization and others gathered Dec. 8-9 in Paris to discuss the implications of the current financial crisis on aid effectiveness and development finance.

The meeting was held by the Organization for Economic Cooperation and Development  two months after its most important annual aid conference took place in Accra, Ghana. The Paris meeting was kick-started by a workshop on the progress of aid effectiveness since the Accra conference in the context of the global financial crisis. OECD directors and advisors as well as experts from Japan's National Graduate Institute for Policy Studies and other organizations attended. On Tuesday, IFM deputy director for policy Hugh Bredenkamp and World Bank policy director and Senior Advisor Jeff Lewis as well as G24 Secretariat Director Amar Bhattacharya and the Brazilian Development Bank Superintendent Maria Isabel Rezende Aboim.

The summit is being organized by OECD's Global Forum, launched in 2006 to promote dialogue between the organization and non-member countries across the globe, as well as their private sectors and civil society. The forum's first thematic cycle, ending in 2009, is focused on the improvement of development finance.

The OEDC was founded in 1961 by the governments of 20 countries with the aim of promoting democracy and economic development. Ten further states joined the organization over the decades, and 100 more - including China, Russia and Brazil - are actively involved in its activities and researches.

About the author

  • Tiziana Cauli

    Tiziana has contributed to Devex News since mid-2008, focusing mainly on Africa as well as the European donor landscape, especially those in Brussels, Rome and Barcelona. Tiziana has worked as a journalist for Reuters and the Associated Press in Johannesburg and at Reuters in Milan and Paris. She is fluent in Italian, English, French and Spanish.