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41 billion euro hole in EU aid budget
Luxembourg

41 billion euro hole in EU aid budget

19.05.2014 From our online archive
Luxembourg is one of just four EU countries to have exceeded the 2015 UN Millennium Development Goal aid targets, while other states will have to double their efforts to plug a 41 billion euro hole, a report said on Monday.
(FILES) Displaced Sudanese children eat at the Sakali Displaced Persons camp in the city of Nyala in Sudan's strife-torn Darfur region February 21, 2007. Oxfam launched an urgent appeal to mark UN World Food Day on October 16, 2008 saying the financial crisis had sent food costs soaring and the global total of people in hunger to nearly one billion people. The British-based aid and development charity said rising food prices had pushed an extra 119 million people into hunger, meaning 967 million people were now living below the hunger line. AFP PHOTO / MUSTAFA OZER

(AFP) Luxembourg is one of just four EU countries to have exceeded the 2015 UN Millennium Development Goal aid targets, while other states will have to double their efforts to plug a 41 billion euro hole, a report said on Monday.

A report on 2013 Official Development Assistance (ODA) prepared for the 28 member nations showed they provided 56.5 billion euros in aid that year, up from 55.3 billion euros in 2012.

Collectively for 2013, they spent 0.43 percent of gross national income (GNI), a measure of total annual economic output, the report said.

At the current rate of increase, ODA will likely amount to only 0.45 percent of GNI by 2015, needing another 41.3 billion euros to hit the target of 0.7 percent.

The European Council, which groups the EU political leadership, said it "remains seriously concerned about ODA levels" and reaffirmed the commitment to aid targets.

Member states falling short of their individual targets "are invited to take realistic, verifiable actions" so as to make up lost ground, a statement said.

"The EU and its member states call on all other international development partners ... to raise their level of ambition, thus contributing their fair share to global development efforts," it added.

The 0.7 percent GNI target was agreed in 2005 as part of a wider EU commitment to the UN Millennium Development Goals. Newer member states have a 0.33 percent target.

In addition to Luxembourg, only Sweden, Denmark and Britain have met or exceeded the 0.7 percent target, the Council statement showed -- while none of the others had met their 0.33 percent commitment in 2013.