In Busan, Korea, on the occasion of the Fourth High Level Forum on Aid Effectiveness (HLF-4, 29 November-1 December 2011), over 3000 delegates met to review progress on implementing the principles of the Paris Declaration. They also discussed how to maintain the relevance of the aid effectiveness agenda in the context of the evolving development landscape.
The forum culminated in the signing of the Busan Partnership for Effective Development Co-operation by ministers of developed and developing nations, emerging economies, providers of South-South and triangular co-operation and civil society - marking a critical turning point in development co-operation.
After extended negotiations, 18 sherpas - elected to represent a wide group of stakeholders - reached agreement on the Busan Partnership for Effective Development Co-operation. This declaration for the first time establishes an agreed framework for development co-operation that embraces traditional donors, South-South co-operators, the BRICS, civil society organisations and private funders.
The process has been guided by the DAC-hosted Working Party on Aid Effectiveness (WP-EFF), which brings together representatives of over 80 countries and organisations.
The Fourth High Level Forum on Aid Effectiveness follows meetings in Rome, Paris and Accra that helped transform aid relationships between donors and partners into true vehicles for development co-operation.
Based on 50 years of field experience and research, the five principles that were agreed at these fora encourage local ownership, alignment of development programmes around a country’s development strategy, harmonisation of practices to reduce transaction costs, avoidance of fragmented efforts and the creation of results frameworks.
Looking ahead, diverse sources of finance, knowledge and expertise play key and complementary roles in the future of development - and broad, dynamic partnerships envisaged in the Busan agreement will continue to give these principles relevance.