OECD Adopts New Development Strategy

Posted by Karen Kornbluh
May 31, 2012
Ambassador Kornbluh and Under Secretary Hormats at OECD Meeting

Big news. Last week, the Organization for Economic Cooperation and Development (OECD) adopted a new Development Strategy for partnering with developing countries. The multilateral organization, founded as part of the post-World War II Marshall Plan, took this significant step in fulfillment of a commitment made a year ago under Secretary of State Hillary Clinton's chairmanship of the OECD 50th anniversary Ministerial. Last year, OECD members adopted a new vision statement committing the organization to look outward and engage with the developing world.

After a good deal of heavy lifting, the new strategy advances the Obama Administration's policy on global development and will increase the efficiency of U.S. aid funding.

We're particularly excited because the strategy will leverage for developing countries the OECD's knowledge, resources, and storehouse of economic policy best practices in areas such as tax, investment, economic growth, anti-corruption, and good governance. Non-members, such as Ghana and Malawi, will be partners in the effort working with the OECD's Development Assistance Committee and Development Centre.

In this era of shrinking foreign aid budgets, the United States supports the new Development Strategy as a means of working smarter through better, more strategic collaboration, both across the OECD and with outside partners. Development assistance, no longer the major flow of resources to the developing world, is increasingly catalyzing other forms of finance and technology. In this way, the strategy is building on the achievements of the Busan High Level Forum and the New Global Partnership for Effective Development Cooperation, emphasizing a more diverse range of partners and a more targeted focus on transparency, results, and accountability.

Of course, there is still much to be done. Pilot projects will test the organization's ability to work across expert areas in a useful partnership, set ambitious targets and metrics, and track progress through rigorous evaluation. It is certainly a big step in re-orienting the OECD's business practices to improve the challenges and opportunities of today's economic development.

Comments

Comments

Ashim C.
|
India
June 5, 2012

Ashim C. in India writes:

It is indeed paradoxical that US as a countries talks of new development strategy while President Obama as a second time presidential candidates positions himself against outsourcing. Different developing countries are in different stages of development and have both great need for future technology relevent to their stage of development technologically and otherwise. India for instance needs clean technology for energy security. US is found generally not sufficiently forthcoming in offering energy related technologies.

let me share here that recent US decision to increase it's naval presence in Asia. Given India's commitment to non alignment, logically, this move should be opposed in India. But one's sense is that it is just the opposite.

This signifies that India an Asian countries are quite open to US but US too must be more open in technology trade and less prohibitive in trade terms to create jobs backhome. More importantly, US must be consistent. It can't say one thing today and another tomorrow.

.

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