As governments prepare their economic recovery plans, they not only face a formidable challenge, but also an unprecedented opportunity.
Early figures released yesterday by the Organisation for Economic Cooperation and Development (OECD) show an increase of 1,4% in global development aid spending in 2019.
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.
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.
Brussels, 9 April 2018 – For the first time since 2012, total aid has globally decreased (by 0.6%), show the latest statistics of the OECD Development Assistance Committee. This drop can be explained by the decline of in-donor refugee costs reported as aid (-13.6% on 2016). Reflecting this global trend, European DAC members are the main reason for the shift in the statistics with drops in refugee costs in many Member States such as Austria, Belgium, Denmark, Finland, Germany, Greece and Slovenia.