The Fourth High-Level Forum on Aid Effectiveness held on 29 November - 01 December 2011 in Busan, South Korea. More than 3000 delegates from Government, Development Partners, CSOs, Academia, Private Sector, Media etc reviewed the global progress in improving the impact and value for money of development aid and adopted the Busan Partnership for Effective Development Cooperation. President of the Republic of Korea, Lee Myung-bak, Korean Vice-Minister of Foreign Affairs Min Dong-seok, OECD Secretary-General Angel Gurría, United Nations Secretary-General Ban Ki-Moon, Rwandan President Paul Kagame, Queen Rania of Jordan and United States Secretary of State Hillary Clinton were among others participated in this opening ceremony. [Agenda]
A High Power 10-member Bangladesh delegation led by Hon’ble Finance Minister, including Mr. M Musharraf Hossain Bhuiyan, Cabinet Secretary, Ms. Nazma Akther, MP, member of the parliamentary standing committee on foreign affairs, and Mr. Iqbal Mahmood, Secretary of Economic Relations Division (ERD) participated in the Forum.
Based on 50 years of field experience and research, the five principles that resulted from these fora encourage local ownership, alignment of development programmes around a country’s development strategy, harmonisation of practices to reduce transaction costs, the avoidance of fragmented efforts and the creation of results frameworks. The Busan Partnership for Effective Development Cooperation for the first time establishes an agreed framework for development cooperation that embraces traditional donors, South-South cooperation, the BRICs, CSOs and private funders. This marks a turning point for international development cooperation. The process has been guided by the Working Party on Aid Effectiveness (WP-EFF), which brings together representatives of over 80 countries and organizations.
Bangladesh has been actively involved in the Busan preparation process by acting as a recipient member of the OECD Working Party on Aid Effectiveness (WP-EFF). Mr. Iqbal Mahmood, Secretary, ERD contributed as the ‘Sherpas’ of the Asia-Pacific region to finalize the Busan outcome document.
The Hon’ble Finance Minister intervened in the (i) Final Plenary, Day 3 (01 December 2011) “Towards a New Consensus on Aid and Development” discussions focusing on Direction and Principles of Future Development Cooperation and the Post-Busan Governance Framework & (ii) Plenary, Day 2 (30 November 2011): Building Block on “Managing Fragmentation”. Bangladesh also participated in the Knowledge and Innovation Space by show casing an example of South-South Cooperation. Members of the Bangladesh delegation actively participated in different important sessions of the forum.
For more information : http://www.busanhlf4.org