This course examines the political economy of development finance in an era of debt stress, geopolitical contestation, and climate transition. It explores how governments negotiate with donors, creditors, and development banks, and why some financing strategies expand policy space while others deepen dependence and constraint. Drawing on comparative cases from China, multilateral development banks, traditional donors, and countries across the Global South, students will examine debt restructuring, climate finance, blended finance, domestic resource mobilisation, and the politics of reform. The course considers how power, bargaining, conditionality, and institutional competition shape development outcomes across diverse political and economic settings. Through case-based discussions, policy exercises, and simulations, students will develop a rigorous understanding of the changing architecture of global development finance and the strategic dilemmas it creates for governments, institutions, and decision-makers.