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13 May - OECD TOSSD Expert Group Meeting and OIF Meetings, Paris

Wednesday, 13 May 2015 00:00

OECDOIFDFI was invited by the OECD to participate in an OECD expert group meeting on the proposed new measure of “Total Official Support for Sustainable Development (TOSSD)”, and to mobilise developing country officials to attend. The meeting reaffirmed that TOSSD should focus on tracking official non-ODA financial flows which aim to catalyse private external financing, and NOT for the time being the private flows which are catalysed, because there are very complex issues to resolve about whether the funds are additional.

The meeting also recommended tracking flows in net terms as well as gross, to take large reflows from non-concessional official flows into account; taking measures to track and analyse relative trends of ODA and TOSSD for each donor to avoid diversion of funds from ODA to TOSSD;and analysing flows for any distortion to allocation by country (potentially to MICs), by sector (to profitable sectors), or by institutions (to DFIs rather than aid agencies). It also raised the risk of reduced priority to catalysing domestic finance (tax revenue, savings/investment) and urged monitoring the % of ODA and TOSSD dedicated to these. Finally, the meeting recommended including only flows which have sustainable development as their primary goal, and designing monitorable effectiveness and impact standards for the funds catalysed to maximise their SDG contribution. During the visit, DFI also held meetings with OIF about ongoing cooperation initiatives. 

 

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