30.11.2011, Jeddah, KSA - The Islamic Development Bank (IDB), is among hundreds of development partners participating in the Fourth High-Level Forum (HLF-4) on Aid Effectiveness now underway in the city of Busan, South Korea.

Nearly 2,000 senior officials from over 100 hundred countries are attending the three day event (29.11.2011 – 01.12.2011) amongst them Heads of State, the United Nations Secretary General and representatives of international funding institutions. A five-person delegation, led by IDB Vice- President for Operations, Mr. Birama Boubacar Sidibe, is representing the Bank at the Busan Forum.

Since the adoption of the Paris declaration on Aid Effectiveness in 2005, the IDB has embarked on several initiatives and programs aimed at enhancing its operational performance and development effectiveness.
In preparation for the current forum in Busan, South Korea, the IDB and other multilateral Development Banks (MDBs) namely the African Development Bank, the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank, and the World Bank have prepared a “Joint Note” that highlights their performance on aid effectiveness, transparency and accountability matters and what needs to be done in this regard in the future.

Similarly, the IDB and other members of the Coordination Group (an informal group that includes nine development financing institutions, fully or partially owned by Arab countries) have jointly prepared a “Statement of Resolve” for circulation in Busan. The Statement of Resolve expresses the Group’s deep commitment to the principles of the Paris Declaration (the “benchmark” for aid & development effectiveness agenda), and highlights its pioneering role in the field of harmonization, south-south cooperation and development of Islamic finance. Both the “Joint Note” and the “Statement of Resolve” are expected to shape the future of development cooperation to be agreed in Busan. Donors and recipient countries are also expected to agree on a new monitoring framework that will routinely assess aid delivery and performance at the country level.

The Agenda for Busan HLF-4 represents a dramatic shift from the previous three Forums; with the main focus being on global partnership for development, south-south cooperation, the private sector and development effectiveness, that is, the ultimate impact of development assistance on the lives of the ordinary people. International funding agencies will hear the voices from the field, especially from Governments of recipient countries, parliamentarians and civil society organizations – the latter being regarded as the advocates of the poor and the disadvantaged.

The shift to wider developmental aspects for the Busan Forum is a direct result of discussions in the G-20 meetings and the increasing role of the non-DAC countries and emerging market economies (such as Saudi Arabia, China, United Arab Emirates, Kuwait, India, Brazil) in financing development