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(2005) The Paris Declaration on Aid Effectiveness

In 2005, over 100 world leaders and development agencies endorsed a new framework for partnership and coordination for improving quality and effectiveness of official development aid. Based on the following five principles, the The Paris Declaration initiated an action-oriented and practical strategy for achieving the goals through the use of objective and traceable actions and indicators.

Five Principles of the Paris Declaration:

• Ownership
• Alignment
• Harmonization
• Managing for Results
• Mutual Accountability

"At the international level, the Paris Declaration constitutes a mechanism which donors and recipients of aid are held mutually accountable to each other and compliance in meeting the commitments will be publicly monitored. At the country level, the Paris Declaration encourages donors and partners to jointly assess mutual progress in implementing agreed commitments on aid effectiveness by making best use of local mechanisms." - "Three reasons why the Paris Declaration will make a difference significantly increasing the impact of aid," OECD-DAC.