14/07/2015 - As the global community gathers this week in Addis Ababa to discuss financing for development and in the lead up to the redefinition of the forthcoming Sustainable Development Goals, the need to rethink about the contribution of two key – but usually overlooked – actors of the financing for development agenda is pressing: foundations and migrants.
Philanthropy’s financial contribution to development has nearly multiplied by ten over a decade, climbing from around USD 3 billion in 2003 to around USD 30 billion in 2013.
Building on its Guidelines for Effective Philanthropic Engagement that help foundations working with or in developing countries to improve the impact of their development activitiesand taking stock of a new era in government-foundation partnerships, the OECD Development Centre announced the imminent launch of a new global initiative called “Accelerating Impact 2030”
This framework, backed by foundations and like-minded actors, in partnership with the OECD Network of Foundations Working for Development (netFWD), aims to demonstrate how the forthcoming Sustainable Development Goals (SDGs) can be achieved faster and more cost-effectively if philanthropic and public resources are deployed more efficiently.
Leveraging mutual resources and building bridges to finance development were equally at the heart of the discussion on the role of migration, remittances and diasporas in financing development, co-organised by the World Bank, the Global Migration Group and the OECD Development Centre. The event recognised migration’s prominent place in the post-2015 agenda, given the inclusion of migration-related targets in the forthcoming Sustainable Development Goals.
Emigrants contribute to the development of their countries of origin probably more than most other sources of finance for development. Remittances sent by migrants represent more than 3 times the global flows of aid to developing countries in 2014. These remittances feed the economy of many developing countries. In some instances, they help finance productive investment projects. The role of diasporas in the development of their countries of origin is also key.
The impact of migration, remittances and diasporas is felt not just in countries of origin, but also in countries of destination. The joint work of the International Labor Organisation and the OECD Development Centre highlights the economic contribution of labour migration in developing countries as countries of destination. Mobilising domestic resources is key to development. Immigrants are not only workers and consumers, but also taxpayers who contribute to the development of their countries of destination.
Migrants can best contribute to the development of both countries of origin and destination if they can move safely and work in conditions equal to native citizens. The event discussed some potential policy recommendations:
The OECD Development Centre’s experts also participated in a side-event on leveraging science and technology for sustainable development in partnership with the Institut de Recherche pour le Développement and the French Ministry of Foreign Affairs and in a UNICEF panel discussion on Financing for Equity and making an Investment Case for Children.
To further leverage the Global Partnership for Effective Development Cooperation and other partnerships to advance the post-2015 agenda, the OECD Development Centre supports knowledge-sharing, exchanges of experiences and peer-to-peer learning.
For more information, journalists are invited to contact Bathylle.Missika@oecd.org regarding the Centre’s work on policy dialogue and philanthropy and David.Khoudour@oecd.org regarding migration and development.
- The OECD at the Addis Ababa Conference: http://www.oecd.org/dac/financing-sustainable-development/ffdandtheoecd.htm
- The OECD Development Centre: www.oecd.org/dev.
- Migration and development: http://www.oecd.org/dev/migration-development/
|Read the Special Feature from the African Economic Outlook 2015
The External financial flows and tax revenues for Africa, published in May 2015 as Chapter 2 of the African Economic Outlook 2015 (AEO), aims to help readers prepare for the conference in Addis Ababa. It provides up-to-date data and analysis on financing Africa’s development.
The AEO is an annual report that results from a unique partnership between three international organisations: the African Development Bank, the OECD Development Centre and the United Nations Development Programme. The full report is available online at www.africaneconomicoutlook.org.
Special Edition of the OECD Observer Magazine: www.oecdobserver.org/development.