06/12/2012 - Development ministers from OECD and emerging economies met in London 4 - 5 December for the High Level Meeting of the OECD’s Development Assistance Committee (DAC).
Despite development successes over the past 20 years and the progress of many emerging economies, the ministers noted that inequality is increasing in all countries and 1.4 billion people still live in absolute poverty.
Summarizing the outcomes, DAC Chair J. Brian Atwood stated, “This high-level meeting was a reflection of the changing world of development co-operation: DAC members and developing countries working in tandem with civil society, the private sector and other partners; strong support for a UN-led process for determining development goals; and innovative finance for development at a time of constrained budgets.”
Participants recommitted to working through the Global Partnership for Development in the lead up to the 2015 date set to achieve the Millennium Development Goals (MDGs). Through this partnership, DAC members and their developing country partners, civil society and the private sector will focus on post-2015 targets based on sustainability, human rights and quality of life.
In their discussions about the future of official development assistance (ODA) the ministers and agencies agreed that it must be directed to where it is most needed and can best catalyse other flows. They asked the DAC to work with the UN system together with the IMF and the World Bank on proposals for new measures of total official support for development, including defining what constitutes ODA.
The 2012 outlines the full range of the discussions and decisions.
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