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International DevelopmentIdeas, Experience, and Prospects$
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Bruce Currie-Alder, Ravi Kanbur, David M. Malone, and Rohinton Medhora

Print publication date: 2014

Print ISBN-13: 9780199671656

Published to Oxford Scholarship Online: April 2014

DOI: 10.1093/acprof:oso/9780199671656.001.0001

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Foundations and Private Actors

Foundations and Private Actors

Chapter:
(p.799) Chapter 47 Foundations and Private Actors
Source:
International Development
Author(s):

Carol Adelman

Yulya Spantchak

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199671656.003.0048

While Official Development Assistance (ODA) comprised the majority of resource flows in international development during much of the twentieth century, today private money, composed of philanthropy, remittances, and investment, significantly surpasses ODA. Additionally, with increased remittances, a more skilled labor force, open markets, and rise of communication technology, the developing world has changed. Private actors in developing countries are taking on a larger role in the assistance process. These private flows have transformed the way foreign aid is delivered: the private sector, with more flexibility and higher risk tolerance, is more likely to fund programs that government aid may not. This paradigm shift offers a great opportunity to reinvent official aid, allowing the aid community to focus on results, demand-driven development, transparency, and sustainability. This chapter covers the value of private flows, the actors involved, future developments in private-sector involvement in foreign assistance, and the impact of private flows on the development landscape.

Keywords:   Official Development Assistance, philanthropy, foreign aid, private development assistance, public–private partnerships, emerging economies, civil society

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