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...year 2015.

Counting on increased mobilization of resources at the domestic level, economies in developing countries would have to grow at an average of per cent per year until 2015 to finance these goals, which will be very difficult to achieve. In addition, calculations presented by the World Bank and the International Monetary Fund indicate that reaching those targets would require a doubling of the official development assistance (ODA) from the current level of $50 billion to $100 billion per year.

Private resource flows over the last years have become the major driving force of development. ODA, however, still plays an essential role as a complement to other sources of financing for development. This applies especially to those countries with the least capacity to attract private direct investment, those with small markets and in difficult geographical locations, etc. ODA also remains the crucial instrument for supporting education, health, public infrastructure development, agriculture, rural development and food security. For many least developed countries, small island developing States and landlocked developing countries, ODA is still the largest source of external financing and will remain critical...

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