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Monday, 05 October 2009

EU Policy Coherence for Development

The third wave of the economic and financial crisis has reached the shores of the developing world, hitting these countries much harder than originally expected. The forecasts for the second half of 2009 and for 2010 look bleak. More than 50 million more people are projected to be in poverty in 2009. In the wake of the crisis there is an increasing awareness that it is not enough simply to return to the status quo ante. Sustaining the development aid effort is essential, albeit not sufficient. In financial terms this means that Official Development Assistance (ODA) must be complemented by other financial sources. Harnessing the development potential of these additional financial flows depends on efforts by developing countries and by their external partners such as the EU to design development friendly policy frameworks. Building on the two first biennial EU Reports on PCD6 and the call to establish a whole–of– the-Union approach 7, this Communication will look at the EU's approach to PCD and will make suggestions to the Community and the Member States on how to use PCD in a more targeted, effective and strategic way.

Source: European Commission