Financing development projects might seem like a complex and technical topic while being vital to sustain the future of people and planet. In this podcast, Jeroen Kwakkenbos from Oxfam International EU Office, guides us through the new trends in aid and the more recent mechanisms put in place to finance development objectives in innovative ways.
For the second consecutive year, EU aid spending has decreased. Despite the well-received 25% reduction in inflated aid, EU aid is still decreasing after discounting these components. This means that, at the current rate of growth, the EU will only meet the 0.7% ODA/GNI target in 2061, as revealed by the CONCORD AidWatch 2019 Report.
Inequalities between people and countries have reached staggering heights. The social contract is under unprecedented pressure, as witnessed by the multiplication of protests, marches and social unrest against austerity, inequalities and injustice all over the world. So what is it about the principle of “Leaving No One Behind” that our leaders have not understood? But the good news is: this can be rectified.
Aid is not only about quantity, it is about quality too! It needs to reach the people who need it the most. Our new paper “Who owns Development Effectiveness? A European Reality Check” analyses how EU aid is actually used for. This paper puts forward a series of recommendation based on some selected indicators which sets the scene for achieving a more effective and inclusive aid.
The EU, as a member of the OECD Development Assistance Committee, has recently had its development cooperation policies reviewed by its peers. Despite noted accomplishments, CONCORD underlines several recommendations of this assessment.
For the first time since 2012, the EU’s aid spending decreased in 2017. This means, at the current rate of growth, the EU would need another 40 years to meet the 0.7% ODA/GNI target, reveals CONCORD AidWatch Report 2018.