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European ODA: It's Not Only About Money

Article no: EN20080601-Article-3.4-2008

European ODA: It's Not Only About Money

2008 is a critical year for evaluating how aid is helping tackle global poverty and inequality. The Doha conference on Financing for Development at the end of the year will review how well the world has done in its global response to confronting the challenges of financing for development agreed in Monterrey in 2002. Donor credibility is on the line as the world waits to be convinced that they will deliver on their many promises made to both increase aid and make it more effective. Lucy Hayes reports

Aid is only one part of the package, but an important one particularly in the poorest countries. The numbers do not inspire much confidence. In 2007 ODA figures fell by over 8% and only five countries in the world have reached their target of spending 0.7% of GNI on development aid. Most countries are also way off target for reaching their commitments made at the Gleneagles G8 and the UN Millennium +5 summit in 2005 ...

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