More than four decades ago, the richer members of the international community committed to deliver at least 0.7 percent of their respective national incomes as official development assistance.
Fifty-five percent of the world’s poor still have limited protection from hunger and economic, social or political crises despite expansion of social safety programmes in developing countries in recent years.
Ethiopia will host an important meeting on Financing for Development (FfD) Conference next week. One of the most-asked questions is: How much will it cost us to achieve the Sustainable Development Goals (SDGs)?
We are witnessing a shift in the original rationale behind the unique relationship between the European Union and the African, Caribbean and Pacific countries of the ACP group, which goes beyond the logic of “unilateral aid transfer”, “donor-recipient approach” and “North-South dialogue”.
G7-based companies and investors cheated Africa out of an estimated six billion dollars in a year through just one form of tax dodging, according to a new Oxfam report ‘Money talks: Africa at the G7’
, released Jun. 2.
“Four decades of existence is a milestone for the ACP as an international alliance of developing countries,” Dr Patrick I. Gomes of Guyana, newly appointed Secretary-General of the African, Caribbean and Pacific group of countries, said at the opening of the 101st Session of the group’s Council of Ministers.
In the run-up to the international Conference on Financing for Development from Jul. 13 to 16 in Addis Ababa, Ethiopia, the European Union has called for a “true paradigm shift” in global development cooperation.
Up to 80 percent of global trade is supported by some form of financing or credit insurance. Yet in many countries there is a lack of capacity in the financial sector to support trade, and also a lack of access to the international financial system. Therefore the ability of these countries to use simple instruments such as letters of credit is limited.
The continued widespread economic recession - aggravated by the recent Ebola outbreak in West Africa - is threatening to undermine the U.N.'s highly-touted post-2015 development agenda.