South-South Development Cooperation: A Contemporary Perspective
While Development Cooperation (DC) has so far been largely a North-South phenomenon —with donors being Northern countries and recipients Southern countries — there is now an opportunity to modify this global paradigm through addition of a complementary and growing South-South DC relationship. Many countries in the South have built significant financial and technical capacities. They have begun to transfer some of these resources, on concessional and non-concessional terms, to other countries in the South in the context of an inclusive approach to the management of global problems, spreading the benefits of globalization more widely, creating new markets, building a wider foundation for sustainable economic growth. In recent years, building on a long history of assistance and other cooperation among developing countries, several Southern countries have become significant DC providers. A new dimension is clearly being added to development cooperation and, particularly for Africa and the Southern countries that remain specially disadvantaged, especially the Least Developed Countries (LDCs), the Landlocked Developing Countries (LLDCs) and the Small Island Developing States (SIDS); this is a promising development that requires consolidation and expansion.
KeywordsForeign Direct Investment World Bank Development Cooperation Small Island Develop States African Union
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