Development finance: Raining on the aid parade
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Donors could use their money more effectively to meet their development goals
“WITHOUT resources, commitments will amount to paper promises,” warned Ban Ki-moon, secretary-general of the United Nations, at the opening of this week’s Addis Ababa Financing for Development conference. But by the end of the event, those paper promises had started to look rather soggy. Many had hoped that the talks would help find funding for the United Nations's development goals after 2015. But slow economic growth has left donor countries with little spending room, resulting in a final statement that leaves much to be desired.
Some development experts say that progress has been made at the talks, in spite of setbacks. The shift of focus from giving aid to helping countries generate jobs and investment has been broadly welcomed. And although participants failed to agree to establish an international …<div class="og_rss_groups"></div>
Source: The Economy