Of all the efforts devoted to improving economic and social conditions in developing countries, the most prominent has been the United Nations’ Millennium Development Goals (MDGs), which set targets for reducing poverty and improving education, gender equality, health, and sustainability by 2015. As is true with any type of development, meeting these targets depends on resources, and a large part of the resources devoted to the MDGs come from developed countries’ pledges for what is called Official Development Assistance (ODA). However, since peaking at $128.7 billion in annual net ODA in 2010, the annual total paid in ODA has declined for two years running, standing at $125.6 billion for 2012.1
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To read the original article: Innovative development financing | McKinsey & Company
