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Thursday, 15 September 2011

Aid still benefits companies from donor countries

Aid from the world's richest donors continues to benefit companies from their own countries, despite decade-old commitments to "untie" aid and hand over control to developing country governments, according to a new report.

Researchers estimate that $69bn – more than half of the total official development assistance – is spent each year buying goods and services for development projects. But much of this money is "boomerang aid" – funds that flow to developing countries only on the books and may never leave the donor countries.

Source: Guardian