DAC

Figures published today by the OECD show that development aid has slightly increased in 2020. While this rise provides a lifeline for millions of people living in poverty around the world, it’s simply not enough. With extreme poverty skyrocketing for the first time in over twenty years and increasing economic and gender inequality exacerbated by the Covid-19 crisis, rich countries are facing and failing the biggest test the aid system has seen since its creation 50 years ago, said Oxfam. 

Current levels of aid from rich countries are woefully inadequate to help developing countries face the coronavirus crisis, said Oxfam today in response to new OECD aid figures for 2019.

Cutting development aid costs lives, and it will exacerbate poverty, inequality and instability across the globe, said Oxfam today in response to the publication of new aid figures by the Organisation for Economic Cooperation and Development (OECD).

At a meeting at the OECD in Paris on the future of development aid, governments of the world’s richest countries promoted the use of development aid to support private investment in poor countries, but failed to focus on the rules and safeguards needed to make sure it supports the people most in need.

The DAC’s reform process offers an opportunity to develop rigorous and demanding criteria and standards to better regulate the use of aid in private sector investments. The following recommendations aim at ensuring the reform leads to a principled approach.

Development aid has reached an all-time high, but with 900 million people still living in extreme poverty much more needs to be done, says Oxfam.

The governments of rich states today cleared the way for the diversion of development aid away from the poorest.

Governments across Europe are planning to divert scarce development aid budgets to cover security and defense costs, anti-poverty campaigners understand.