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Tuesday, 13 September 2011

Brussels could save €4 billion in development aid

The EU, which is the world's biggest aid donor and gives over €53 billion a year to developing countries, could save €4 billion by managing more effectively the grants and loans it provides to help reduce poverty and achieve the Millennium Development Goals by 2015.

"I am aware that efforts are still too slow and more efforts are needed. In a period of crisis, we cannot spare any effort to save money whilst increasing the impact of aid," said the EU commissioner in charge of development, Andris Piebalgs, presenting on 9 September the position that the European Commission believes the 27-country bloc should adopt with regard to the effectiveness of international aid.

Source: Euractiv