Today's international development financing system is not much of a system. It is rather a collection of disjointed entities that lack coherence, often work at cross purposes and are not up to the task of mobilizing enough finance to assist developing countries in their efforts to reduce poverty and improve living standards. This book brings together the vast array of new initiatives in financing mechanisms as well as recent attempts to transform the development finance architecture. Based on four different scenarios for the next ten-year period, proposals are made for how to reach an effective system. It is argued that the early years of the 21st century have brought about an unprecedented window of opportunity for reforms. But in order to use this opportunity leadership and strategic action are needed.

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