Borrower’s Coordination: Post-Financing for Development (FFD4) – Where Do We Go from Here?
By Development Reimagined and the African Center for Economic Transformation
- Date & Time: Wednesday 15th October, 11:30 – 13:30
- Location: The Whittemore House, 1526 New Hampshire Ave NW
The international financial system remains predominantly lender-centric and is not designed to meet borrower country needs. The system prioritizes creditors' interests through mechanisms like the Paris Club, Development Assistance Committee (DAC), and Multilateral Development Bank (MDB) working groups, often excluding sovereign borrowers from key discussions. This imbalance has long disadvantaged developing countries, particularly in Africa, leading to inadequate access to affordable, high-quality financing and debt relief.
As highlighted in a recent report by Development Reimagined, the African Center for Economic Transformation and AfriCatalyst, there have been at least 32 coordination initiatives launched over the past few decades. These initiatives have spanned formal partnerships, advocacy platforms, and capacity-building efforts, with varying scopes, impact and success. There is an urgent need to ensure this high-level initiative does not lose traction, to ensure a fairer international financial architecture which prioritises the needs of borrowers, rather than favouring creditors, to deliver long-term, sustainable development.
This panel discussion will explore how to make the Borrowers' Forum effective and impactful. It will draw on lessons from past coordination efforts, discuss practical steps for implementation, and identify ways to ensure borrower-led reforms to the global financial system.
