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Tuesday, 08 September 2009

EU Member States must deliver on aid pledges, say MEPs

EU Member States must meet their international aid commitments to developing countries, and particularly those disproportionately affected by the economic downturn, said Development Committee MEPs in a debate with two international experts on Thursday. The committee also approved a resolution on the effects of the crisis on developing countries and development co-operation. EU Member States must meet their international aid commitments to developing countries, and particularly those disproportionately affected by the economic downturn, said Development Committee MEPs in a debate with two international experts on Thursday. The committee also approved a resolution on the effects of the crisis on developing countries and development co-operation. The economic crisis is having devastating economic and social effects on African countries, including declining export earnings, sharp reductions in capital inflows and large fiscal deficits which make it impossible to use fiscal stimulus measures, stressed African Development Bank Group President Donald Kaberuka. The forthcoming G20 summit in Pittsburgh "must go beyond statements of principle", deliver on global Official Development Assistance (ODA) commitments and meet the needs of low-income countries by allocating resources flexibly and case by case, he added.

Source: European Parliament