HE Amb. Musa Kulaklıkaya, Director General of SESRIC participated as a panellist in the side event on Total Official Support for Sustainable Development (TOSSD) organised by the Organisation for Economic Co-operation and Development (OECD) on 5 March 2019 on the margins of 50th Session of the UN Statistical Commission in New York.
The panel started with the update about the work on TOSSD by the Task Force, of which SESRIC is a member since its establishment back in 2017, particularly on the finalisation of the methodology to track resource flows to countries, and discussed how TOSSD can provide a better measurement of finance in support of data and statistics for development.
On his part, HE Amb. Kulaklıkaya underlined that SESRIC has contributed the work of the Task Force for building a robust framework how development finance is extended in the SDG era, and especially including Islamic Finance.
SESRIC has proposed the modification of the Draft TOSSD Reporting Instructions to reconsider classification of the Islamic Finance instruments as a financing arrangement rather than mode of collaboration as they are used by the member countries of the Organisation of Islamic Cooperation (OIC) for financing the development cooperation among each other. In the last version of the Reporting Instructions, Islamic finance instruments have been classified within the financing arrangements under main statistical concepts of the TOSSD framework.
Through the TOSSD reporting framework, our member countries, as providers, will be displaying more visibility to their development co-operation, including in-kind technical cooperation which would be valued in a more comparable way. As recipients, OIC countries will be able to provide better information on external finance towards sustainable development.
Recent ODA Figures of OIC Member Countries
While some of our member countries listed as recipient concerning Official Development Assistance (ODA), they have been observed recently as emerging donor countries such as Turkey.
Turkey ranked the sixth in the provision of aid following the USA, Germany, United Kingdom, Japan and France, which are the members of the OECD-DAC, with the official figure of 8,12 billion dollars of development assistance in 2017. As per the rate of the ODA provided in Gross National Product (GNP); Turkey ranked the fourth with 0.95% following Sweden, Luxembourg and Norway. With this rate, Turkey surpassed the target of 0.70% target of the United Nations.
Although they are non-DAC members, 6 OIC member countries also report to the DAC: Azerbaijan, Kazakhstan, Kuwait (KFAED), Saudi Arabia, Turkey, and United Arab Emirates.
In 2017, 48 OIC countries received positive net ODA inflows that amounted to 60 billion 978 million USD that corresponded to 56.1% of the total ODA received by the developing countries.
The top 10 OIC countries with net positive ODA inflows in 2017 include Syria, Afghanistan, Bangladesh, Nigeria, Yemen, Turkey, Jordan, Iraq, Pakistan and Palestine. The ODA received in 2017 by these countries (37 billion 862 million USD) had a share of 62.09% in OIC total and 34.81% in developing countries total.