On December 6, ORF America hosted a private roundtable titled “Bridging Perspectives: Shaping Development Priorities for the Global South”. The event facilitated an insightful conversation on the pressing challenges for economic development in the Global South with a select group of participants from multilateral development banks, think tanks, philanthropies, and the private sector.
The participants reflected on key milestones from 2024 including the IMF and World Bank meetings, the Summit of the Future, and COP29 among others. The discussion identified critical gaps and proposed key action points for Global South collaboration in 2025.
As the collective influence of the Global South grows through the consecutive G20 presidencies of Indonesia, India, Brazil and South Africa, the upcoming Financing for Development conference, and COP30 in Bélem in 2025, the discussion focused on three key priorities:
Examining the outcomes from significant convenings in 2024, such as the UN Pact for the Future, the Global Digital Compact, the World Bank’s enhanced lending capacity, the Global Alliance Against Hunger and Poverty established during Brazil’s G20 presidency, and the financial commitment made during COP29 for climate action.
Exploring whether or not the ongoing global commitments adequately addressed the urgency of the Global South’s needs.
Assessing the available opportunities for the Global South to take action to drive effective and sustainable solutions in 2025.
The participants noted the importance of articulating clear priorities and course of action to sustain the momentum generated in 2024. However, questions were raised about the adequacy and effectiveness of development finance to address the needs of the Global South particularly in climate adaption and clean energy transition. The discussions also called into question whether the current strategy of private sector engagement is appropriate and whether countries of the Global South had the capacity to absorb increased flow of resources effectively.
The conversations emphasized that the Global South needs more institutional capacity to gain credibility and provide leadership in multilateral forums. Countries of the Global South should agree on a set of priorities, develop action plans, and develop coordination mechanisms to strengthen their bargaining power to drive the global development agenda in 2025.
Attendees:
Magdi Amin, Managing Partner, African Renaissance Partners
Pepukaye Bardouille, Special Advisor to the Prime Minister of Barbados and Director, Bridgetown Initiative
Ridhika Batra, Vice President Corporate Affairs, Mahindra Group
Udaibir Das, Distinguished Senior Fellow, ORF America, and Visiting Professor, National Council for Applied Economic Research
Alan Gelb, Senior Fellow Emeritus, Center for Global Development
Hemang Jani, Senior Advisor to Executive Director, World Bank
Vikrum Mathur, Senior Director, Tata Sons - North America
Anit Mukherjee, Senior Fellow, ORF America
Karen Rodriguez, Alternate Executive Director for Brazil, Colombia, Dominican Republic, Ecuador, Haiti, Panama, Philippines, Suriname and Trinidad & Tobago, World Bank
Jordan Sandman, Principal, Investments, Co-Develop
Sharon Stirling, Chief Operating Officer, ORF America
Fabio Veras Soares, Director of International Studies, Institute for Applied Economic Research, Brasilia
Brian Webster, Research Associate, Center for Global Development
