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“Good governance” as an issue of development is being widely used for improvements in socio-economic outcomes and for aid effectiveness and considered as the effective tool for overcoming multidimensional challenges existed in both developed as well as developing countries of the world and it has generated increasing attention and debate both at the national and international level over the past two decades . The concept of ‘good governance’ conveys the qualitative dimension of governance that indicates effective, efficient, participative, or democratic form of government which is responsible for transparent and accountable management of human, natural, economic and financial resources for equitable and sustainable development. Addition of the adjective ‘good’ to governance has given a sense of enhancement and almost become an obsession in the recent debates on international development and public administration in developing countries. Other than the nations, international organizations such as the World Bank, the United Nations Development Programme (UNDP), Asian Development Bank (ADB), the Organization for Economic Co-operation and Development (OECD), the European Union (EU) and other donor agencies, have given rigorous importance to the issue of governance – particularly for aid receiving countries. The purpose of this article is to develop a conceptual framework on governance and good governance. This article highlights the emergence of governance as a shifting paradigm from government along with the differences between government and governance. It also focuses the meaning of governance and good governance in general and particularly the views from World Bank and UNDP as a problem solving mechanisms. For ensuring effective performance of the institutions, different international organizations like World Bank and UNDP addressed good governance indicators which are also explore in this article. Keywords : Governance, Good Governance, Theoretical Framework
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