development aid

The world’s biggest aid donor, the European Union, was sidelined at the High Level Forum on Aid Effectiveness taking place in Busan, South Korea from 29 November – 1 December.

Aid from rich nations is likely to fall by at least $9.5 billion by the end of 2012 – the biggest drop in aid for 15 years, according to new calculations by international agency Oxfam ahead of this week’s G20 Summit (Nov 3-4).

In their Deauville Accountability Report, the G8 has massaged the figures, claiming to have delivered almost US$49 billion of the promised $50 billion. But according to the OECD, responsible for measuring the official aid figures, the G8 have delivered just $31 billion.

Oxfam spokesperson Mark Fried said: