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Tuesday, 31 May 2011

Council: Development aid alone is not enough

The Council adopted and discussed the first annual report to the European Council on EU development aid targets. The text is set out in 10593/11. In 2010, official development aid (ODA) from the EU and member states reached a historical high of EUR 53.8 billion, up by EUR 4.5 billion from 2009 levels. This represents 0.43% of the EU gross national income (GNI), but still falls short of the intermediate target of 0.56% GNI that the EU had set itself for 2010. In spite of the economic and financial crisis, the EU remains the biggest donor worldwide and provided over half of global ODA in 2010. The report stresses that aid alone will never be enough to sustainably address the development needs of partner countries and examines the qualitative aspects of aid as well as the quantitative aspects, looking for example at effectiveness and innovative financing mechanisms.

Source: Council of Ministers