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Thursday, 10 December 2009

EU Development Council backtracks on development commitments

At their meeting in Brussels on 17th November, European development ministers displayed once again the double standards that all too often prevail when it comes to rich countries’ positions on development policies. On the table for discussion were key challenges ahead for 2010, including financial support for climate change mitigation and adaptation in developing countries; improvements on EU’s aid effectiveness; and enhanced coherence between EU’s financial policies and development objectives. Council conclusions show how EU ministers are seriously backtracking on their promises on climate finance, and doing very little to ensure that EU’s financial (un)regulation plugs the leaks that allow $1 trillion a year to flow from the South to the North.

Source: Eurodad