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Aid remains crucial source of finance for development

Aid remains crucial source of finance for development

On Thursday the 20th of November, the Concord Aidwatch 2014 was launched at the Organization for Economic Co-operation and Development (OECD) in Paris.

Concord Aidwatch has monitored and made recommendations on the quality and quantity of aid provided by EU member states since 2005.

The present, ninth report 'Aid Beyond 2015' focuses on ways in which the EU can shape the future development and financing frameworks appropriate to answers to goals and requirement in the Post 2015 international cooperation / sustainable development agenda.

The report argues that aid will remain a crucial source of finance for development, and calls upon EU member states to:

  • be prudent when reviewing the ODA definition
  • avoid inflated aid
  • demonstrate commitment and credibility by delivering on the existing aid target of 0.7% of the Gross National Income (GNI) for Official Development Assistance (ODA), and allocate 0.15-0.20% ODA/GNI to the least developed countries.
  • commit to development effectiveness principles, and fully implement aid effectiveness commitments (e.g. by publishing qualitatively aid flows fully via the International Aid and Transparency Initiative, IATI)

At present, only four countries meet the 0.7% target: UK, Denmark, Luxembourg and Sweden. The Netherlands, with 0.67% GNI, is unfortunately no longer one of them.

The new methods for calculating a country's GNI would in principle allow the Netherlands to increase the commitment, but our government is encouraged to regain leadership by re-instating the 0.7% aid target, at least until a target that is better suited for the Post 2015 goals is agreed upon internationally." (Cordaid website)

Cordaid’s Senior Corporate Strategist Izabella Toth is a member of the Concord Board.

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