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The Least Developed Countries Report 2019

The Present and Future of External Development Finance - Old Dependence, New Challenges

image of The Least Developed Countries Report 2019

This report provides a comprehensive source of socio-economic analysis and data on the world's most impoverished countries. It calls for least developed countries (LDCs) to ensure that external finance from all sources is directed to national development priorities, and urges the international community to scale up its support toward this goal. Persistent shortfalls in domestic savings in the least developed countries make them heavily dependent on external finance. The least developed countries are most dependent on official development assistance. Official development assistance is essential for LDCs to achieve the Sustainable Development Goals and eventually escape aid dependence.

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Private development cooperation: More bang for the buck?

The role of the private sector remains controversial in development cooperation, yet it is increasingly being solicited. The architecture of ODA is evolving, as donors seek alternative sources of development finance to fund the ambitious 2030 Agenda for Sustainable Development and to supplement dwindling levels of ODA. Donors’ private sector engagement strategies prioritize a toolbox of financial instruments to support private investment in a variety of developing country contexts, including in LDCs. This move has revolutionized the definition of ODA and its purpose.

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