A group of policymakers, financiers, and development experts has stepped forward to redesign development cooperation systems, responding directly to growing strain from geopolitical tensions, debt crises, climate shocks, and technological disruption.
By unveiling its full slate of commissioners, the Future of Development Cooperation Coalition (FDCC), is asserting itself as a serious reform initiative rather than a conventional discussion forum. The group will spend the next year addressing how to shift development cooperation from incremental progress to genuine economic transformation.
Development cooperation has historically revolved around concessional finance, bilateral aid flows, and multilateral lending frameworks anchored by institutions such as the World Bank and the IMF. But that model is under significant pressure.
Emerging and developing economies today face a confluence of challenges including rising debt burdens, tightening global financial conditions, climate-related vulnerabilities, and widening technological divides. At the same time, geopolitical tensions are reshaping global alliances, often complicating multilateral consensus.
In this context, the coalition’s formation, co-hosted by the African Center for Economic Transformation and the Center for Global Development, signals recognition among policymakers that incremental reforms will not suffice. Instead, what is required is systemic rethinking.
“This is a decisive moment for development cooperation,” said Yemi Osinbajo, former Nigerian Vice President and one of the coalition’s co-chairs, underscoring the urgency of the task.
A defining feature of the coalition’s approach is its emphasis on mobilising “all types of flows”; not just public finance, but private capital, trade, and remittances.
For decades, development discourse has focused on increasing aid volumes. Today, the conversation is shifting toward how to unlock vastly larger pools of capital sitting in global financial markets.
Commissioner Joaquim Levy, a former Brazilian finance minister and veteran of multilateral finance, pointed directly to this transition. As climate risks and technological change reshape economic trajectories, he argued, development finance must enable countries to leapfrog into new growth sectors.
That leapfrogging, whether in renewable energy, digital infrastructure, or advanced manufacturing, requires capital at a scale far beyond what traditional aid can provide.
The implication is clear: development cooperation must increasingly function as a catalyst, de-risking investments and crowding in private sector participation rather than acting as the primary funding source.
Another core pillar of the coalition’s agenda is alignment with country-level priorities; a long-standing critique of development cooperation that has often been driven by donor agendas rather than recipient needs.
Rania Al-Mashat, Egypt’s former minister of planning and international cooperation, emphasised that unlocking private investment at scale requires stronger integration between domestic policy frameworks, international partnerships, and capital markets.
Climate and technology as twin drivers
If earlier eras of development were defined by industrialisation and globalization, the current moment is increasingly shaped by climate change and technological transformation.
The coalition’s composition reflects this reality. Commissioners bring expertise spanning climate finance, fintech, digital public infrastructure, and artificial intelligence; areas that are rapidly becoming central to development outcomes.
Jasandra Nyker, a South African investment specialist focused on climate finance, represents a growing recognition that sustainable development is inseparable from climate resilience. Financing the energy transition, building climate-resilient infrastructure, and managing environmental risks are now core development challenges.
At the same time, figures like Shankar Maruwada, a key architect behind India’s digital public infrastructure initiatives, highlight the transformative potential of technology. The coalition aims to explore how such innovations can be scaled globally, while also addressing the risks associated with digital divides and governance gaps.
Fragility, conflict, and humanitarian linkages
Beyond economic and technological considerations, the coalition is also dealing with rising fragility and conflict; factors that increasingly shape development trajectories.
David Miliband, president of the International Rescue Committee, sees development cooperation as a bridge between global resources and vulnerable populations. His perspective underscores the need for closer integration between humanitarian response and long-term development strategies.
In many regions, crises are no longer temporary disruptions but persistent conditions. This reality challenges traditional distinctions between emergency aid and development financing.
The coalition’s work is expected to explore how systems can be redesigned to deliver immediate relief while simultaneously building resilience and long-term opportunity.
The coalition’s launch also comes against the backdrop of a more fragmented geopolitical landscape.
Competition between major powers, shifting trade relationships, and divergent policy priorities are complicating global cooperation. In this environment, multilateral institutions face increasing pressure to adapt.
Co-chair Arancha González Laya pointed to the coalition’s diversity as a strategic asset, bringing together perspectives from government, markets, civil society, and innovation ecosystems.
The role of Africa and emerging economies
Notably, the coalition places significant emphasis on perspectives from emerging and developing economies, particularly Africa.
This is a critical shift. For too long, development frameworks have been designed primarily in advanced economies, with limited input from the regions they aim to serve.
The involvement of institutions like the African Center for Economic Transformation and commissioners with deep experience across Africa, Asia, and Latin America, indicates a more inclusive approach.
It also reflects the reality that many of the most dynamic opportunities for growth and innovation lie in these regions.
Africa, for instance, is home to some of the world’s fastest-growing populations and rapidly expanding digital ecosystems. Harnessing this potential will require tailored strategies that reflect local contexts rather than one-size-fits-all solutions.
The coalition’s inaugural in-person meeting, scheduled to take place in Washington, D.C., alongside the World Bank-IMF Spring Meetings, will mark the beginning of an intensive phase of engagement.
Over the next year, the group plans to conduct rigorous analysis and consultations across a wide range of stakeholders, including governments, investors, businesses, civil society organisations, and youth networks.
