Most developed countries have accepted, in principle at least, the 50‐year‐old commitment of contributing 0.7% of gross national income to supporting the development of developing countries. But what if all countries made a universal development commitment, meaning a scaled contribution?
The authors of this study propose a new universal and scaled financial commitment to development, informed by but not necessarily identical to official development assistance.
- sets out how a new era is emerging of higher global ambitions – for example, to end poverty
- proposes a new way to raise and govern international public funds
- and discusses the possible size and use of contributions, and the evolution in global governance and democracy that a new deal would entail.
It concludes with a set of questions that the proposal raises.