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With a collective commitment to the Sustainable Development Goals (SDGs), the worlds of development cooperation, in general, and development finance, in particular, are keenly looking for new and innovative sources of financing for effective and timely outcomes. This chapter considers three successful efforts at providing global public goods for the goal of achieving the 2030 Agenda that operationalise development cooperation in a more “shared” manner, thereby opening up space for engagement by multiple stakeholders in a less hierarchical manner. It identifies three common ingredients that make meaningful contributions to the success of these efforts: access to resources, access to participatory institutions, and ensuring multi-stakeholder participation.

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India's approach to development cooperation is conceptualized in the available literature as following the idea of 'development compact'. The present article situates development compact in the theoretical discourse on development economics. In a comparative setting, it argues that while North-South Cooperation, in terms of its different modalities and institutional structure, aims at reducing the negative externalities arising out of exchange of resources for development between the donor and recipient, development compact in the spirit of South-South Cooperation, aims to capture and enlarge the potential of generating positive externalities through horizontal development cooperation.