Learn and become involved in issues of development finance both here in the UK and global processes around financing for development
Development finance work is focussed around issues on the quantity and quality of aid finance from the UK Government, as well as monitoring global processes around the finances committed internationally to aid and development.
The UK Government is bound by legislation to spend 0.7% of GNI on official development assistance (ODA). However the 2015 Aid Strategy committed to policies that included spending an increasing proportion of this outside of the Department for International Development. In 2015, this meant 14 central government departments and related funds were spending ODA. Along with this increase in new actors in the ODA field, there was also renewed focus on areas such as economic development, promoting global prosperity and conflict and security. The Development finance group seeks to hold the Government to account on a number of new policy fronts around aid quality, transparency and effectiveness.
The group also monitors global processes around financing for development (FFD). After the 2015 UN FFD conference in Addis Ababa, there remains significant concern to ensure sufficient finance for the future development and sustainability goals. This group will continue to monitor and influence the agenda at significant moments in the processes, including through the UN’s Inter Agency Taskforce on Financing for Development.