In 2012, the Organisation for Economic Co-operation and Development (OECD) reported development aid dropping for the first time in 15 years. Figures showed that Official Development Assistance fell by nearly 3% to $133.5 billion in 2011 compared to 2010, the first drop since 1997 when debt relief figures are not included. At the same time, approximately 1.7 billion people in our region are poor and unable to access essential goods, services, assets and opportunities. Given that global aid levels and volumes remain volatile in a fragile global economic environment and needs of the countries in Asia and the Pacific continue to evolve, addressing this financing gap requires working more closely with a much wider range of development partners. The focus on leveraging aid for other forms of development assistance including knowledge and private sector involvement and development is more important than ever.
This issue was amplified during the Fourth High Level Forum on Aid Effectiveness (HLF4) in Busan, Republic of Korea, in November - December 2011. The Busan Partnership for Effective Development Cooperation (BP), the communiqué endorsed at HLF4, acknowledged that aid is only part of the solution to development and broadened the focus and attention from aid effectiveness to the challenges of effective development. The BP also recognized the central role of the private sector and knowledge in advancing development solutions.
While financing from multilateral and bilateral agencies and other official sources remains vital, needs and priorities of developing countries in Asia and the Pacific region are changing as they grow. In light of these evolving priorities, it is important for ADB to maintain its relevance for the region. To increase the impact of its development operations, and recognizing the vast and evolving needs of the region, ADB is pursuing a finance plus-plus approach, which means leveraging its resources with other forms of development assistance and increased focus on knowledge sharing.
As ministers and heads of organizations prepare to meet in late 2013 to take stock of progress in implementing the vision set out in Busan, this session will provide an opportunity to vocalize the Asia and Pacific perspective on a key Busan theme.
Honorable Armida Alisjahbana
Alternate Governor for Indonesia in the Asian Development Bank
Minister of National Development Planning and Chair Person of BAPPENAS, Indonesia
Co-Chair of the Global Partnership for Effective Global Cooperation
Vice President for East Asia, Southeast Asia and the Pacific, Asian Development Bank
Honorable Emilia Pires
Governor for Democratic Republic of Timor-Leste in the Asian Development Bank
Minister of Finance, Timor-Leste
Honorable Bernie Ripoll
Alternate Governor for Australia in the Asian Development Bank
Parliamentary Secretary to the Treasurer, Australia
Moderator: Veronica Pedrosa