EU falls short of promises for aid

Above is a map of OECD countries’ aid spending both by total dollar value and by proportion of gross national income (GNI) in 2010. It shows the US as the clear winner on the sheer amount of aid given. But if you look at it with aid as a percentage of gross national income (the bottom map), then the picture is very different.

Six years ago, world leaders gathered at the Gleneagles G8 summit and pledged to help “make poverty history” by increasing their aid spending. But according to new figures released on Wednesday by the Paris-based Organization for Economic Cooperation and Development (OECD), the world’s biggest aid donors have collectively missed their targets by $19 billion. The Guardian reports, “EU member states failed to hit the 0.56% collective target of gross national income for aid last year, a figure set in 2005.”

Many point to the global financial and economic crisis as an explanation for reduced spending. But according to the OECD, only a little over $1 billion of the shortfall in aid can be attributed to the crisis. The OECD says the shortfall in aid will affect Africa in particular and that the remaining $18 billion gap is the consequence of broken promises.

For more information, click here.

Source: The Guardian; OECD

Sachiye Day, VERTICES intern. sachiye@vertices.com

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