Overview

Development is one of the issues on which the Organization for Economic Co-operation and Development (OECD) work more intensely. The EU is a full member of the Development Assistance Committee (DAC). According to the DAC mandate, “the Committee” develops “[...] the methods for making national resources available for assisting countries and areas in the process of economic development and for expanding and improving the flow of long term funds and other development assistance to them”.

In the DAC, particular emphasis is dedicated to aid effectiveness, as shown by the adoption of the Paris Declaration and the Accra Agenda for Action. The Paris Declaration was signed during the Paris High Level Forum in 2005 between aid recipients (partner countries) and donors. The Declaration objective is improving the way aid is provided so as to achieve the Millennium Development Goals (MDGs) by 2015. The Accra Agenda for Action builds upon Paris Declaration on Aid Effectiveness. The text was written on the base of consultations with more than 80 developing countries, all OECD donors and a large number of civil society organizations from around the world.

The EU is the largest donor in the world, providing more than 60% of worldwide contributions. It is committed to increasing external assistance by 50% over the next five years and to implementing the Paris Declaration.