The Age of Choice: how are developing countries managing the new development finance landscape? The case of Viet Nam
Dr. Nguyen Dinh Cung - Central Institute for Economic Management (CIEM)
Annalisa Prizzon - Research Fellow, ODI
Dr. Victoria Kwakwa - Country Director, The World Bank
Cao Manh Cuong - Deputy Director of Foreign Economic Relation Department, Ministry of Planning and Investment
In 2000, there were few options available for most of developing countries to fund their national development strategies. Finance from the so-called ‘traditional’ donors – members of the OECD Development Assistance Committee (DAC) – accounted for the vast majority of available external assistance.
Today, the development finance landscape has changed dramatically. From the supply-side, first development finance landscape underwent what has been described by Severino and Ray (2009) as a ‘triple revolution’, in actors, goals and tools. New actors are mushrooming, including non-DAC donors, such as India and China, and philanthropists, such as Gates. There are also new goals such as those related to climate change mitigation and adaptation which led to the creation of vertical funds set up to address such global and national challenges. Finally, new and complex innovative finance instruments have been developed and so the involvement of the private sector such is the case of public-private partnerships (PPPs). Second, fiscal austerity in OECD countries is also putting downward pressure on donor aid.
At the same time, in September 2015, the international community will adopt the post-2015 development agenda, the Sustainable Development Goals (SDGs). This universal agenda will aspire to transformative change to eradicate poverty and hunger and achieve economic growth and transformation, while protecting the environment, ensuring peace and realizing human rights. Its success will hinge on reaching an ambitious agreement on policies, financing, technology transfer, capacity building and systemic issues at the Third International Conference on Financing for Development (FfD) in Addis Ababa from 13-16 July 2015.
The post-2015 development agenda will be implemented primarily at the national and subnational level with a strong role played by national financing strategy together with a renewed and strengthened global partnership for sustainable development.
In this workshop hosted by the Central Institute for Economic Management (CIEM) in Hanoi, ODI researchers will share findings of country case studies looking at the challenges and opportunities for partner countries in managing the new development finance landscape – in particular beyond Official Development Assistance (ODA) – and what it means for the post-2015 development agenda and national financing strategies.
The presentations will offer lessons from the country case studies conducted in Cambodia, Ethiopia, Ghana, Fiji, Papua New Guinea, Senegal, Timor-Leste, Vanuatu, and Zambia since summer 2012. Viet Nam is among these case studies.