Part of the impetus behind the Fourth International Conference on Financing for Development is that we need a whole lot of financing options to make up for the precipitous drop in official development assistance.
For years, the Development Assistance Committee, or DAC, of the Organisation for Economic Co-operation and Development set the gold standard for foreign aid — urging countries to give 0.7% of their gross national income to ODA.
But only a handful of the OECD’s 33 DAC members have ever reached that goal. In addition to the United States, many governments in Europe are dedicating less and less to ODA than ever before — and that 0.7% is looking more like a fantasy than a realistic target.
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About the author
Anna Gawel
Anna Gawel is the Managing Editor of Devex. She previously worked as the managing editor of The Washington Diplomat, the flagship publication of D.C.’s diplomatic community. She’s had hundreds of articles published on world affairs, U.S. foreign policy, politics, security, trade, travel and the arts on topics ranging from the impact of State Department budget cuts to Caribbean efforts to fight climate change. She was also a broadcast producer and digital editor at WTOP News and host of the Global 360 podcast. She holds a journalism degree from the University of Maryland in College Park.
