More than four decades ago, the richer members of the international community committed to deliver at least 0.7 percent of their respective national incomes as official development assistance.
Sadly, less than half a dozen smaller countries have actually met this goal. Furthermore, ODA disbursements have not been stable, reliable or reflective of need, with continuing doubts about development effectiveness.
With pens still hovering over the Addis Ababa Action Plan, the outcome agreement for the Third International Conference on Financing for Development (FfD3), there is already a sense that for all the recent talk at the UN about ambition and transformation, it is falling short. For a financing document, the Action Plan includes an impressive number of references to issues at the core of sustainable and inclusive development, like social protection, essential services, decent work for all and sustainable industrialization. There are multiple references to consumption and production, a rebalancing of which, among the rich and the poor, will determine the future of our world.
How Africa can overcome being marginalised in the global economy
As the modern day Greek tragedy reaches its climax, the global debt justice movement has launched a major campaign calling for a resolution that would avoid disaster.
The call is for debt cancellation for Greece, but it goes much further, asking for a European debt conference and the creation of fair United Nations rules to solve future debt crises wherever they may occur. And this call has already been answered by more than 12,000 people in less than a week.
Read more: Greek debt crisis shows why we need international financial reform
Interesting report from German development NGO on the Financing for Development process loinked to the post-2015 development agenda