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EU aid in € 36billion funding gap ahead of 2015 UN targets


Tuesday, 29 October 2013

EU aid in € 36billion funding gap ahead of 2015 UN targets

European aid to poor countries is stalling two years ahead of the United Nations Millennium Development Goals deadline, with aid cut or stagnant in 19 member states reveals the new Concord AidWatch report published today on the International Day for Poverty Eradication. The report looks at the quality and quantity of EU aid, with analysis showing that the funding gap to reach the UN target stands at €36 billion.
This report states that the EU-27 countries delivered €50.6 billion or 0.39% of EU’s gross national income in aid in 2012, a 4% drop compared to previous year. EU aid has fallen to its lowest levels since 2007 with AidWatch projections showing that total aid is expected to remain almost stagnant at approximately 0.43% of GNI.by 2013-2014.
This report also shows that several countries have substantially increased their aid, the largest relative increases being in Latvia (17%), Luxembourg (14%), Poland (14%), Austria (8%), Lithuania (8%) and the United Kingdom (7%). Those already reaching the 0.7% target are Denmark (0.8%), Luxembourg (1%) and Sweden (0.99%), and in 2013 the UK will join them, at 0.7%. €5.6 billion of EU aid was inflated and never reached developing countries, bringing genuine aid down to €45 billion or 0.35% of GNI.

Source: Oxfam