+ Less than 10% EU Aid to Least Developed Countries (LDCs)
Less than 10% of EU aid money reaches the countries where it is most needed, according to a study that found levels of assistance had dropped for the second year running, reports The Guardian.
The EU and its member states remain the biggest development donor group in the world – investing €71.9bn (£61bn) in 2018, more than half of global aid – but its contribution was 5.8% lower than in 2017, the European NGO network, Concord, found in its AidWatch report.
Progress on meeting the UN target of spending 0.7% of gross national income on aid
, laid down in 1970, has gone into reverse, said the group. Their research showed that aid decreased to 0.47% of the EU’s combined GNI last year, compared with 0.49% in 2017 and 0.51% in 2016. Only Sweden, Luxembourg, Denmark and the UK met the 0.7% commitment. Aid
from five countries – Italy, Greece, Finland, Austria and Lithuania – decreased by 10%.
Looking at where ODA is targeted to countries with the highest need of resources – such as least developed countries (LDCs) – OECD figures show that EU Member States increased ODA from 0.11% of GNI in 2016 to 0.12% in 2017.
This is still almost €5 billion short of meeting the international commitment to invest 0.15 to 0.2% of GNI in this group of countries. The 16 countries among the poorest in the world, currently receive only 8% of EU funding. Around half of this amount is channelled through the European Commission and the European Investment Bank, which report they spent 25% of their ODA on LDCs.
The UN Conference on Trade and Development’s Least developed countries report
, also published this week, called on the world’s poorest nations to ensure external finance from all sources is “directed to national development priorities” as the best way to “manage their aid dependency and eventually escape it”.