Global threats such as pandemics, climate change, increased inequality, low economic growth and conflict have made it increasingly difficult for developing countries to achieve the Sustainable Development Goals. Modalities for aid need to adjust to new priorities. Retooling Development Aid in the 21st Century: The Importance of Budget Support examines the critical role of budget support by Multilateral Development Banks and other multilateral and bilateral
aid agencies in addressing the 21st century's signature challenges of eliminating poverty and protecting our global commons, as well as effectively responding to the new realities developing countries face, by providing fast disbursing finance in support of critical reforms.
Set against the background of a dramatically changing international financial architecture, the volume examines how budget support has evolved from its controversial past, debates over conditionality, and unmet expectations from the Paris Declaration. With the global financial crisis and the Covid pandemic, budget support re-emerged as a key financing instrument to support policy reforms and catalyze private capital. The volume looks to the future and proposes a retooling of budget support as a
versatile instrument to address development challenges of the next decade, with the flexibility to adapt and adjust as events unfold.
- ISBN10 0192882198
- ISBN13 9780192882196
- Publish Date 21 February 2023
- Publish Status Forthcoming
- Publish Country GB
- Imprint Oxford University Press
- Format Hardcover
- Pages 240
- Language English