Finance committee  Thank you for the question, Mr. Chair. The clauses are being removed since they fall within the scope of existing reporting requirements under the Bretton Woods and Related Agreements Act. There are several clauses within the existing ODAAA that duplicate what is in the Bretton

Finance committee  Are you asking which ones are being removed?

Finance committee  Paragraph 5(1)(d) calls for: a summary of any representation made by Canadian representatives with respect to priorities and policies of the Bretton Woods Institutions. Paragraphs 5(3)(a) and (b) ask that the Minister of Finance prepare a report under section 13 of the Bretto

Finance committee  Yes, that is correct.

Finance committee  In the current bill, the ODAAA, the definition of official development assistance is right in the legislation. It states that: official development assistance means international assistance (a) that is administered with the principal objective of promoting the economic devel

Finance committee  That's correct.

Finance committee  Thank you, Mr. Chair. With respect to the current definition of “official development assistance”, it is the definition set out and agreed to by the OECD DAC. It has changed recently, and that is the reason to call for the regulation approach to changing the definition. The def

Finance committee  Yes. I'm happy to. It has three segments. It says: The ODA grant equivalent is a measure of donor effort. Grants, loans and other flows entering the calculation of the ODA grant equivalent measure are referred to as ODA flows. Official development assistance flows are defin

Finance committee  Yes, it is all available on the OECD-DAC website, so we can share the link and that information.

Finance committee  You will probably find some of that expertise in the next group of my colleagues to come, but in fact it recognizes that some of the new private sector instruments would have ODA reported through this mechanism. I don't know if others want to add to that.

Finance committee  We have nothing else to add. We're ready to take your questions.

Finance committee  The act was originally created in 2008, and in the interim time the OECD has worked to update the act. The updated definition is based on the same elements that are in the ODAAA: the main objective is to promote the economic development and welfare of developing countries; and th

Finance committee  In fact, the OECD is still undergoing discussions on modernizing the definition of ODA to reflect the evolving global context. For example, now there are discussions regarding private sector instruments, and those discussions are ongoing. We expect the definition to be changing a

Finance committee  That's right.

Finance committee  It would mean our reporting wouldn't be aligned with the now internationally agreed definitions of ODA, and some of our ODA, which would come under the new tools that will be in part B of our discussions, may not be able to be counted.