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Development finance: A conceptual definition

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  • Abdul Latif Alhassan

    (Graduate School of Business, University of Cape TownDevelopment)

Abstract

Development finance has traditionally been associated with development finance institutions since the 1940s with the establishment of the International Bank for Reconstruction and Development. Although the practice of financing for development has evolved to cover traditional financial and non-financial institutions, the definition of development finance as a concept appears to have received limited attention in academic discourse, resulting in a lack of clarity on its scope. This paper presents a conceptual definition of development finance as ‘an approach to funding developmental outcomes which covers strategies, principles/processes and instruments employed by multiple development stakeholders to mobilize and align finance for sustainability’. The dimensions underlying the proposed definition are discussed to develop a contextual understanding of development finance as a professional and academic discipline.

Suggested Citation

  • Abdul Latif Alhassan, 2023. "Development finance: A conceptual definition," Development Finance Agenda, Chartered Institute of Development Finance, vol. 8(5), pages 16-18.
    • Handle: RePEc:afj:journ4:v:8:y:2023:i:5:p:16-18
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    File URL: https://journals.co.za/doi/abs/10.10520/ejc-defa_v8_n5_a6
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