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Tuesday, 10 May 2011

Commission underlines commitment to help world's LDCs out of poverty

From 9 to 11 of May José Manuel Barroso, President of the European Commission and Andris Piebalgs, Development Commissioner, will at a conference in Istanbul, reemphasise the European Commission's leading role in helping the world's least developed countries (LDCs) out of poverty. As the largest donor to the LDCs, with €15 billion of aid in 2010, the EU will urge other partners to match its pledge to provide 0.15-0.20% of its GNI to LDCs. It will also call for a renewed global partnership of LDCs and both developed and emerging economies, working together with civil society and the private sector, to ensure a joined up approach to helping the LDCs meet their development goals. […] The fourth LDC Conference, taking place from 9-13 May in Istanbul, will provide a key opportunity for donors to come together and provide renewed momentum to LDC support. Whilst many of them have made progress in their development, that progress has been uneven and Millennium Development Goals are still lagging behind in many of them. That is why the EU undertook to provide 0.15-0.20% of its Gross National Product (GNP) to the LDCs in November 2008. It has already made significant progress on this target - currently 0.13% of EU Gross National Income (GNI) goes as aid to LDCs. However, in order to help more countries move out of LDC status, other donors must do the same. Moreover, emerging economies like Brazil, China and India should also provide their fair share of assistance to the LDCs.

Source: European Commission