As the economic crisis weighs on public budgets in OECD donor countries, it is now clear that official development assistance (ODA) alone will not mend the MDG financing gap. Of course, many low-income countries still badly need ODA, but achieving the MDGs overall requires that other resources such as domestic tax revenues and private capital flows play their role in promoting inclusive growth in developing and emerging countries.
How much money is needed? Working Paper #306 Revisiting MDG Cost Estimates from a Domestic Resource Mobilisation Perspective brings updated global estimates of the additional financial resources needed in developing countries to achieve the Goals. Its preliminary results were discussed in Pretoria on 14 Nov. 2011 at a seminar co-organized by South Africa’s National Treasury, UNDP South Africa and the South African Institute for International Affairs.
Download the Working paper here.