On the basis of a "financial pact": reforming conditionality and procedures to increase the effectiveness of public funding

May 26, 2023, Clermont-Ferrand

6th event (6/6) of the FERDI Chair in International Architecture of Development Finance leading up to the Summit for a New Global Financing Pact.

This last event in the series, scheduled for May 26 in Clermont-Ferrand at FERDI, addressed the two complementary and cross-cutting themes of conditionality and effectiveness of public development finance.

Friday 26 May
10:00 am - 4:00 pm (Paris time)

Location : Ferdi, Clermont-Ferrand - Hybrid format (on site and online) 



Introductory remarks
10:15 am - 10:30 am

Patrick Guillaumont, President of the Ferdi
Jean Louis Arcand, President of GDN 

Session 1 - What future for aid conditionality ?

10:30 am - 12:30 pm

The session took stock of the evolution of debates since structural adjustment and subsequent reform projects, particularly on the European Union side, as well as with the 2005 Paris Declaration on Aid Effectiveness, also discussed below. Chinese aid practice, the adoption of the SDGs and the emphasis on climate change have profoundly changed the context in which traditional donors attempt to maintain conditionality. The legitimacy and effectiveness of current conditionalities on concessional funding, particularly where recipient countries are fragile or vulnerable, were discussed.


-          Matthieu Boussichas, Program Manager at Ferdi 

-          Patrick Guillaumont, President of Ferdi


-          Mats Hårsmar, Deputy Managing Director of Expertgruppen för biståndsanalys, Expert Group for Aid Studies - EBA, Suede

-          Paul Collier, Professor of Economics and Public Policy at the Blavatnik School of Government, Oxford University(online)

-          Tertius Zongo, Director of the Sahel Chair, Former Prime Minister of Burkina Faso 

-          Nathalie Brajard, Head of Unit Macro-economic analysis, Fiscal policies and Budget support at DG for International Partnerships at European Commission (online)

-          Serge Tomasi, Former Ambassador, former Deputy Director for Cooperation and Development at the OECD

-          Ngueto Tiraïna Yambaye, Managing Director of the African Guarantee and Economic Cooperation Fund, former Chadian Minister of Economy and Planning and former IMF Administrator for French-speaking African countries

12:30 - 2:00 pm

Lunch on site

Session 2 - What lessons can be drawn from the work on aid effectiveness ?

2:00 - 4:00 pm

The term "aid effectiveness" in fact covers two very distinct currents of thought: a current that follows on from the OECD meetings (Paris Declaration, Accra, etc.) and the Global Partnership for Development that succeeded it, a current that considers effectiveness in terms of process and organization, and a more academic current that draws on a large body of quantitative studies that seek to evaluate the impact of public flows on economic growth and other variables. These two currents have developed relatively independently of each other and have each shown some weakening over the past decade. The lessons learnt from this will be to improve the effectiveness of the flows that the Paris Summit proposes to mobilize.

Moderator:   Patrick Guillaumont, President of Ferdi          

Presentation:       Olivier Lafourcade, Partenaires (I&P), Former Director at the World Bank

Lisa Chauvet, Professor of Economics, University of Paris 1 Panthéon-Sorbonne, Ferdi Senior Fellow

Marin Ferry, Associate Professor in Economics at Université Paris-Est Marne-la-Vallée


-          Jean-Pierre Olivier de Sardan, Anthropologist, Researcher and co-founder of the Laboratory of Studies and Research on Social Dynamics and Local Development (LASDEL),

-          Shanta Devarajan, Professor at Georgetown University, Former Senior Director for Development Economics (DEC) and Former Acting Chief Economist at The World Bank, Vice-Chair GDN Board, online

-          Jean Louis Arcand, President of the GDN

-          Annalisa Prizzon, Senior Researcher in ODI's Development and Public Finance Program, online

-          Rabah Arezki, Director of Research at the CNRS-UCA-Cerdi, Senior Fellow Ferdi, online


16:00 pm

Friendly refreshment


Since its creation, FERDI has made international development finance its priority programme. At the same time, it has carried out a great deal of work on country vulnerability, its different forms, their measurement and how they were or could be taken into account in international development finance. Ferdi is internationally recognised for its expertise on issues of country vulnerability and its links to financing. 

In addition, since the beginning of the year, FERDI has created a Chair on the "International Architecture Development Finance " (IADF) under the direction of Philippe le Houérou, Chairman of the Board of Directors of AFD and former CEO of IFC, and with the participation of a select group of French personalities with considerable experience in the field and an equal desire for reform, all intervening in their personal capacity: notably Rabah Arezki, former Chief Economist and Vice President of the African Development Bank; Bruno Cabrillac, Deputy Director General of Studies and International Relations, Banque de France; Sylviane Guillaumont Jeanneney, Professor Emeritus, former member of the Board of Directors of the AFD; Alain de Janvry and Elisabeth Sadoulet Professors at the University of California at Berkeley, Senior Fellows at Ferdi; Olivier Lafourcade, former Director at the World Bank; Alain Le Roy, Ambassadeur de France and former Under Secretary General of the United Nations; Jean-Michel Severino, Chairman of Investisseurs et Partenaires (I&P) and former Director General of the AFD. 

The purpose of the group was to reflect independently on what the global development finance system should become in the light of the current international situation and the lessons learned from the past 60 years. The announcement made by the President of the French Republic of a Summit to be held in Paris on the financing of vulnerable countries with a view to adopting a Financial Pact with these countries has led the IADF Chaire to adapt, accelerate and amplify its programme so as to make contributions on themes that are crucial to the orientation of the Summit. 


22 June, Paris
Allocating new development finance taking into account multidimensional vulnerability, event organised with the Organisation internationale de la Francophonie (OIF) and the Commonwealth Secretariat, as part of the Summit for a New Global Financial Pact. (tbc)

Event How to mobilize domestic and international private investment for sustainable growth in poor and vulnerable countries ?Event Avoiding a new debt crisis: financial engineering or development dynamics? Event Diversification and fragmentation of public financing for developmentEvent Multiple climate or environmental funds: What role for the multilateral development banks? Event Purposes and recipients of public financing for development. How to reach vulnerable countries?