The World Economic Forum (WEF) has announced the formation of a new Global Development Council aimed at reimagining the future of international cooperation and progress.

The initiative comes at a time when massive cuts to development aid, geopolitical upheavals, and declining support for multilateral institutions have disrupted decades of global development gains.

Co-chaired by Bright Simons, Founder of mPedigree and policy analyst, and Dr Sara Pantuliano, CEO of the global think tank ODI, the council brings together government leaders, development experts, economists, and private sector innovators to chart a new path toward inclusive and sustainable development.

Its mandate includes exploring innovative financing models, strengthening regional cooperation, and identifying scalable solutions capable of thriving amid political fragmentation and fiscal austerity.

According to the WEF, traditional models of aid and development are no longer sufficient to address current global challenges, including climate shocks, food insecurity, widening inequality, and debt distress.

The council will focus on developing practical frameworks that leverage technology, local innovation, and cross-sector partnerships to deliver lasting impact.

“The world is at an inflexion point,” the WEF stated in its announcement.

“To secure a more resilient and equitable future, global development must evolve beyond aid dependency toward collaboration, creativity, and shared accountability,” it added.

The council’s findings and policy recommendations will feed into the WEF’s broader global development agenda ahead of its next Annual Meeting in Davos.