International development: Better to give
UK Only Article:
UK article only
The reluctant European
Britain is the biggest foreign aid donor in the EU
AT THE Tory party conference in Manchester, David Cameron proudly touted his promise to spend 0.7% of national income on foreign aid. Overseas aid has been a feature of Mr Cameron’s conference speeches since 2010. Yet a growing economy and shrinking public spending elsewhere means a rising share of government spending goes on aid, to the annoyance of other cash-strapped departments. Since 2010, the aid budget has risen by 40%. Only America disburses more. Has the money been spent well?
The increased budget has been a boon for multilateral organisations. Some 62% of Department for International Development (DFID) spending now goes to such bodies, up from 56% in 2009. They are a useful way to spend money fast. But they are also good at operating on a large scale and are insulated from short-term political considerations. Getting multilateral organisations to hand out money frees DFID staff to focus on …
Source: The Economy