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rbw/strategic-workshop-rome-challenging-‘billions-trillions’-model-financing-development’

Strategic Workshop in Rome on Challenging the ‘Billions to Trillions’ Model of Financing Development’: Brainstorming on Issues and Future Advocacy

Rethinking Bretton Woods | Fri, Jun 15, 2018

The Rethinking Bretton Woods Project at Center of Concern will be collaborating with the Society for International Development, the Heinrich Boell Foundation, and others to convene a three-day workshop in Rome, Italy, that will explore and deconstruct the fast moving transformation of the global system of development finance that is currently underway among the G20 and the world’s major multilateral development banks (MDBs) including the World Bank.

The G20 and MDBs are currently undertaking a major overhaul of the traditional operational system for development finance. This overhaul, called “Maximizing Finance for Development” (MFD), will shift from a publicly financed model for foreign aid and development finance to a new privately financed approach. However, this new approach is directly at odds with the human rights-based framework in the Sustainable Development Goals (SDGs) to which most MDBs have committed support. Titled, “Capacity-Building Project on Financial Regulation and Human Rights,” the workshop will convene leaders from civil society and scholarly institutions from the affected countries to share research and analysis regarding these major developments to raise awareness, provide data, and develop methodologies for civil society organizations to engage more efficiently and effectively in this global debate.

Participants will (1) explore these developments, identify the key elements of financialization necessary for training materials and financial literacy modules; and (2) begin planning and organizing a larger, multi-country, multi-year education and advocacy project to raise awareness and help prepare civil society to address these significant changes underway in the development finance system.