The G20’s plan to tackle corporate tax dodging, devised by the Organisation for Economic Co-operation and Development (OECD), needs a radical shake up so that developing countries can capture their fair share of foreign business activity, according to a new report published today by Oxfam.
Oxfam today celebrated news that donors had increased their development aid spending to $134.8 billion in 2013, which the OECD says stands at the highest-ever recorded level. However aid levels to Africa dropped by 5.6% to just $28.9 billion – back to the levels they were 10 years ago.
Governments must move quickly at this year’s first UN climate change meeting to plug the gaping deficit of funds to help developing countries adapt to climate change and lower their emissions.
A staggering 40 per cent drop in funding focused on climate change adaptation, revealed by the OECD yesterday, should prompt renewed action at the Ministerial Meeting on Mobilizing Climate Finance in Washington and meetings of EU climate experts in Brussels next week.
Faltering overseas aid figures announced today are depriving poor countries of a massive $18bn worth of life-saving aid, at a time when 64 million more people globally have been pushed into poverty by the financial crisis.
The 2009 overseas aid figures released today by the OECD show that rich countries are failing to deliver on their promises to poorer countries. The amount of aid has fallen by $3.5 billion when compared with last year’s prices.