The Development Policy Forum (DPF) is a partnership between Friends of Europe, the United Nations, the World Bank, the Agence Française de Développement (AFD), the UK's Department for International Development (DFID), the Deutsche Gesselschaft für Zusammenarbeit (GTZ) with the support of the Friedrich-Ebert-Stiftung (FES), the International Monetary Fund (IMF) and Yara International, and in association with the European Commission Directorate General for Development and Relations with ACP States.

As bourses plummet across the globe and developed countries throw trillions of dollars at their ailing banks and economies, a full house of participants representing the spectrum of the development community attended the Development Policy Forum (DPF) roundtable on 3 March 2009. They debated whether the UN Millennium Development Goals (MDGs) can be met, considering the framework of today’s global aid architecture.

Given the depth of the current worldwide economic crisis, sentiment among the participants ranged from pessimism to guarded optimism. At best, the current meltdown presents opportunities for much-needed reform.

Statistics provided by the World Bank reminded participants that even before the current financial crisis, many countries – particularly in Sub-Saharan Africa – were not on track to meet the MDGs. The recent wave of crises – in food and fuel prices, in climate change and now the global economic freefall – has made meeting the MDGs even more difficult and more expensive.

Yet, resources are available to meet the MDGs. If developed nations would devote even 0.7% of the money they are spending on bank bailouts and economic stimulus to poverty reduction and development, significant progress could be made. Governments have repeatedly committed to dedicating 0.7% of the Gross National Income (GNI) to Official Development Assistance (ODA), yet most have fallen short of meeting their commitments. Doing so is not a matter of charity. Reduction of poverty and economic inequality is imperative for security and conflict avoidance. Against this backdrop, DPF participants explored various ways progress towards the MDGs can continue, including:

• Greater aid efficiency through redesigning aid architecture.
• Support for both the agricultural and manufacturing sectors in developing countries.
• Recognizing the critical role that remittances play in reducing poverty and the need to protect migrant workers.
• Reforming the Bretton Woods Institutions.
• Avoiding trade protectionism.

To see the full list of attended discussants, please click here.