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OECD: Finland increases development aid

May 07, 2011 News

…will finance an International Conference on Education this month

International development aid has increased 6.5 per cent between 2009 and 2010, according to a report released by the OECD in the beginning of April.
Finnish development aid increased 8.8 per cent between 2009 and 2010, reaching over a EUR 1 billion, which equals to 0.55 per cent of the gross national income (GNI).
In the Caribbean, Finland’s development cooperation is targeted primarily at sustainable development, energy, and meteorological capacity building. However, it extends to other sectors as well. On 24-25 May, Finland is financing an International Conference on Education for CARICOM countries in Montego Bay, Jamaica. Also Cuba and Dominican Republic are invited to participate.
Aid flows from OECD Development Assistance Committee (DAC) donor countries were the highest ever in 2010, totaling US$129 billion. The OECD and the DAC are celebrating their 50th anniversary this year, and are pleased with the commitment most of the donors have made in reaching the targets.
Out of the 15 DAC EU countries, nine increased their aid and six decreased it. The total of the EU countries’ aid in 2010 was still the largest; US$79.2 billion, which counts for 54 per cent of the whole sum.
A recent survey by the OECD shows that most of the donor countries are planning to increase aid in the next three years. However, it is likely that the growth rate will decrease to two per cent between 2011 and 2013, from the eight per cent it has been in the past three years.
According to the Chair of the OECD’s DAC, Brian Atwood, donor countries need to be able to stick to their commitments, by doing political, budgetary and planning work needed to sustain their aid pledges.

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