“At the end of November, 2011, more than 3000 representatives convened in Busan for the Fourth High Level Forum (FHL-4) to take stock and review whether targets in previous agreements have been met and to decide on the future of aid effectiveness agenda. The forum culminated in the signing of the most inclusive agreement on global cooperation, Busan Partnership for Effective Development Cooperation (BPEDC). The BPEDC recognized the new development partners (non-DAC) and official donors, private philanthropy, international NGOs, Southern Civil Society and private business community. It also noted the growing importance of South-south cooperation. The HLF-4 took place against a backdrop of impatience with the pace of development and the perceived failures of development assistance.”
