1945

Introduction

After falling in the 1990s, official development assistance (ODA) has increased considerably since the early 2000s, following the 9/11 terrorist attacks in 2001 and the Monterrey Consensus of the International Conference on Financing for Development (United Nations, 2002). Nonetheless, ODA levels are still significantly below internationally agreed targets. There is also concern that ODA has not been a stable and reliable source of financing. In addition, there is need for additional financing of international collective action to address global problems, such as mitigating the effects of climate change. The perceived need for additional and more assured funding has led to a search for innovative sources of development financing to complement traditional ODA.

Related Subject(s): International Trade and Finance
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