PARIS –June 13, 2013 –The Global Green Growth Institute was granted Official Development Assistance (ODA) eligibility status today by the Organisation for Economic Co-operation and Development – Development Assistance Committee (OECD-DAC), joining an select group of international organizations whose contributions from donor nations are considered ODA.
This development is expected to greatly increase GGGI’s ability to assist developing and emerging economies in green growth planning and implementation. The OECD defines ODA as: Flows of official financing administered with the promotion of the economic development and welfare of developing countries as the main objective.
GGGI’s green growth planning work occurs solely in developing countries and its research and public-private cooperation platforms are designed to support and improve green growth in developing countries.
“Today’s decision provides further confirmation of GGGI’s uniqueness as the world’s sole international organization dedicated to green growth — and accredits GGGI as a viable institution dedicated to supporting developing and emerging economies around the world in meeting their aspirations for growth and development through green growth,” said GGGI Council Chair Lars Løkke Rasmussen.
“A world-wide shift to inclusive green growth is the key to eliminating extreme poverty and improving human wellbeing,” said President of the Assembly of GGGI, former President of Guyana Bharrat Jagdeo. “GGGI is already starting to deploy its unique capabilities to help developing countries who are leading that shift. Today’s decision on ODA eligibility will allow GGGI to work at a greater scale than was possible before, and is therefore a key milestone on the road to GGGI achieving its unique potential.
“GGGI is grateful for initiative and support from the Republic of Korea, which sponsored the ODA application along with Australia, Denmark and Norway, as well as the strong vote of confidence shown by the OECD and the Development Assistance Committee members,” said GGGI Director-General Howard Bamsey.
GGGI is an international organization dedicated to developing and diffusing a new paradigm of economic growth – green growth – which simultaneously balances economic performance and environmental sustainability. Headquartered in Seoul and founded in June 2010, GGGI works in long-term partnership with developing and emerging economies through rigorous green growth planning, research and public-private cooperation. For more information see: www.gggi.org