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By Stephen Odoi-Larbi with additional files from AP
Developing economies on Monday were relieved of their burden with a $1.6billion support from the European Union (EU).
The amount was set aside by the EU from its farm subsidies and aimed at boosting the agricultural sector of the economies of developing nations, who as a result of escalating oil and food prices on the global market, were facing difficulties to survive.
This announcement was made known by the European Commission’s President, Jose Manuel Barroso, at the ongoing Group of eight (G-8) summit in Rusutsu, Japan.
Some activists have long accused G-8 countries of sparing on aid to Africa and developing countries after making initial pledges on increasing aid to the continent.
Three years ago in Gleneagles, Scotland, where the Group of eight met to discuss and deliberate on matters affecting the global economy, aid to Africa was the center piece. Member countries of the G-8 pledged to increase foreign aid by $50billion a year by 2010 with half of the amount ($25bn), going directly to Africa. Members also pledged to cancel the debt of the most Heavily indebted Poor Countries (HIPC).
But a research conducted by Debt, AIDS and Trade in Africa (DATA) revealed that out of the $50billion pledge that was made at Gleneagles, Scotland, only $3billion had been delivered.
According to DATA’s report, Germany, United States of America (USA) and Britain were the countries following through on commitment, while progress from Japan, France, Italy and Canada was either unclear or weak.
The Organization for Economic Cooperation and Development (OECD) in April, reported that foreign aid by major donor countries slumped (dropped) in 2007 as debt relief plans did not go on as planned amid global economic downturn in Japan and some other rich nations.
But Japan disputes that saying there was been no backtracking on the commitments made to Africa. “I don’t understand the criticism. The G-8 leaders are very aware of the commitments they have made to African leaders”, said Japanese Foreign Ministry Spokesman Kazuo Kadama.
USA President, George Bush also emphasized the urgency of providing aid to Africa. He called on wealthy nations to provide mosquito nets and other aid to prevent children from “needlessly dying from mosquito bites”.
“Now is the time for comfortable nations to step up and do something about it”, Bush said.
Next on the agenda of the summit is climate change. The United Nations (UN) and the World Bank (WB) called on top industrialized nations to push forward global talks on climate change and also demonstrate their commitment to help poorer nations grapple with rising food prices.
2 comments:
Developing countries have always been promised by donor countries of grant to cushion their economies but most at times, many of these donor countries fail to live by their promise living the developing countries in limbo. I would therefore suggest that relief monies be paid on time to ease the burden of the beneficiaries. Bimbo, Accra
i dare say that this money is going to be used for its intended purposes. as a product of the world-acclaimed learned Economist, Professor George Ayittey, i strongly hold the conviction that aid is not the solution to Africa's teething problems but geting its leaders to account for each and every dime given them as grants or loans. I'l therefore urge the EU to task the respective beneficiaries of this facility to account for it.-charles takyi-boadu, senior staff reporter 'The Chronicle' newspaper.
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