Aid from Europe

"THERE is a lot of financial aid sloshing around inside the European Union. But there will soon be less of it flowing out. At the G8 summit in Gleneagles in 2005, when the rich world made heroic pledges to tackle poverty in Africa, EU members promised to raise aid budgets to 0.56% of GNP by 2010 and 0.7% by 2015. But most countries will miss this year’s target. And with austerity biting, the 2015 goal looks hopelessly ambitious."-The Economist

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