MOSCOW – In 2006, when Russia’s government hosted a G-8 meeting on cooperation with emerging development donors, it planted a seed that had great growth potential. Today, new development partners are increasingly prominent in the global architecture, providing steadily rising aid contributions of different types.
That is why this week’s Moscow meeting of these new development partners points toward the future. In Moscow, development organizations and recipient countries, both long-standing and newer partners – including Russia, China, Korea, Turkey, and Poland – will meet to share best practices, consider innovations in development, and find ways of using aid more effectively to respond to shared global challenges.
The rise of new development partners – emerging markets that are channeling billions of dollars to developing countries – opens possibilities for fresh ideas and resources to help overcome poverty, sustain inclusive economic growth (including through a dynamic private sector), and address global issues such as food security and climate change.
But there is a risk that developing countries, already burdened by dealing with numerous donors, will face an even greater fragmentation of aid efforts. New donors can lessen the load on the world’s poorest and increase effectiveness by working together through multilateral channels. In Moscow this week, both newer and traditional aid donors, as well as multilateral organizations – such as the World Bank Group and the OECD – will discuss improving transparency of aid, coordination of assistance, and enhancing effectiveness by targeting results.