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As EU pares budgets, Turkey and Korea step up aid spending

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Friday, 08 February 2013

As EU pares budgets, Turkey and Korea step up aid spending

EU candidate Turkey and South Korea are ramping up aid programmes for poor nations at a time when such spending in Europe is under threat, a EurActiv analysis of aid statistics shows.
The two countries figure among a handful of nations that are giving more to help poor countries at a time when the traditional heavy-hitters - the EU, Japan and the United States – are struggling with domestic budgetary problems and are on course to scale back their overseas commitments.
South Korea nearly tripled its spending from 2006 to 2011, easily outpacing any other donor country, while Turkey nearly doubled its overseas aid budget in the same period. However, , the two emerging donors are a long way from joining the big leagues, data from the OECD and development monitoring groups show.
South Korea provided $1.33 billion (991 million Euros) in overseas aid and Turkey $1.3 billion (990 million Euros) in 2011, out of a world total of $125.1 billion (93.2 million Euros).
EU candidate Turkey provided more aid in 2011 than wealthy Austria ($1.1 billion) and Luxembourg ($413.4 million) and nearly as much as Finland ($1.4 billion) in 2011, OECD figures show. Overall, the EU is collectively the largest aid donor, providing $86 billion (€66 billion) from national governments and EU institutions – or 55% of the world total in 2011. The total value of development aid provided by the EU for the period 2008-2013 only under the European development Fund (10th EDF) amounts to EUR 22 billion.
When measured by gross national income (GNI), aid accounted for 0.12% of South Korea’s GNI in 2011, falling short of its 0.13% target, and 0.13% of Turkey’s GNI. Overall, the 24 member countries the OECD’s Development Assistance Committee (DAC) allocated 0.31% of GNI to foreign aid and the EU’s 2015 target is 0.7%.

Source: Euractiv.