New Types of International Development Agencies and the Governance of Global Development in the New Era

China Social Science Review

No.2, 2021

New Types of International Development Agencies and the Governance of Global Development in the New Era

(Abstract)

Zhang Chun

The passing of the United Nations 2030 Agenda for Sustainable Development is a symbol of the entry of global development governance into the New Era as well as of the evolution of agencies for international development. The new type of international development organizations, mainly created by the emerging powers, strives to innovate while inheriting tradition, thus demonstrating its huge potential in leading development-oriented global governance. Firstly, on the basis of the evolution of a progressive shift in power, the new bodies are creating a rational design for an international development mechanism for future global development governance; secondly, combining the principles of sovereign equality and nationally determined contributions, they advance democracy in global development governance to improve the common development of all countries; and thirdly, they integrate the supply of public goods with financial sustainability to increase the sustainability of public goods for the effective governance of global development. At present, these new-born international development agencies must not only continuously perfect their own concepts, mechanisms and methods but also strengthen comprehensive collaboration and symbiotic growth with traditional international development bodies to make a real contribution to global development governance. Thence they should advance to a higher stage as mainstream organizations in global development through incremental normative diffusion.