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Oxford Martin School: Public Lectures and Seminars

The UK’s development strategy and the new economic and geopolitical challenges

May 30, 2024
In this engaging discussion, guests Andrew Mitchell, Minister for Development and Africa, Emily Jones, an expert in global trade finance, and Stefan Dercon, a prominent economic policy professor, delve into the UK's new international development strategy. They explore innovative climate finance mechanisms, the need for respectful partnerships amid geopolitical tensions, and the complexities of balancing aid with national interests. Key issues like resource mobilization, the impact of conflict on aid, and reforms in international organizations also take center stage, offering fresh perspectives on global challenges.
01:20:53

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Quick takeaways

  • The UK's International Development White Paper signifies a pivotal shift in foreign aid policy, highlighting the need for innovative funding strategies amidst geopolitical challenges.
  • Addressing climate change remains central to the White Paper, emphasizing the importance of balancing climate mitigation efforts with urgent adaptation funding for the least developed countries.

Deep dives

Introduction of the International Development White Paper

The November 2023 release of the UK’s International Development White Paper marks a significant shift in the landscape of foreign aid policy, being the first of its kind in 14 years. It comes in the wake of previous aid cuts and the merger of the Foreign Office and the Department for International Development, setting a new direction for UK development efforts. The paper meticulously analyzes current challenges, particularly in relation to climate change and geopolitical rivalries that threaten coordinated responses to global issues. It emphasizes the necessity for innovative funding strategies amid challenging fiscal conditions, underlining the need for collaboration with emerging donors and a careful balance between financial commitments and the UK's core values.

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