The field of international development cooperation is undergoing tectonic shifts, with new nodes of decision-making and resources emerging alongside existing institutions. A paper by the UN University Center for Policy Research concentrates on two recently established institutions, one primarily regional and the other essentially transregional: the Asian Infrastructure Investment Bank (AIIB) and the BRICS’ New Development Bank (NDB). The key point is this: in order to maintain its relevance in the field, the United Nations must harness its convening power and boost its legitimacy as agenda-setter, so as to foster a clearer division of labor with development financing institutions, particularly in light of the 2030 Agenda for Sustainable Development. The paper looks at the broader implications of these changes for the UN itself, proposing a reframing of its role in light of the diversifying gamut of actors involved in development financing and norms-setting. Read more here.
Source: UN Centre for Policy Research
