A Proposal for a New Universal Development Commitment

Abstract

Most developed countries have accepted, in principle at least, the 50-year-old commitment of contributing 0.7 per cent of gross national income to supporting the development of developing countries. But what if all countries made a universal development commitment, meaning a scaled contribution? We propose a new universal and scaled financial commitment to development, informed by but not necessarily identical to official development assistance. This paper: (1) sets out how a new era is emerging of higher global ambitions – for example, to end poverty; (2) proposes a new way to raise and govern international public funds; and (3) discusses the possible size and use of contributions, and the evolution in global governance and democracy that a new deal would entail. We conclude with a set of questions that the proposal raises.