Poor countries have been denied $5.7 trillion in aid over the past 50 years due to the failure of wealthy nations to live up to their promise to assist the low- and middle-income states, the Oxfam charity said in a report on Friday
MOSCOW (Pakistan Point News / Sputnik - 23rd October, 2020) Poor countries have been denied $5.7 trillion in aid over the past 50 years due to the failure of wealthy nations to live up to their promise to assist the low- and middle-income states, the Oxfam charity said in a report on Friday.
This year marks the 50th anniversary of the rich countries' pledge to spend 0.7 percent of their gross national income on aid to the poor. Oxfam has released a report dedicated to the implementation of this pledge.
"International aid is a critical tool in the fight against poverty and inequality yet most wealthy governments have been systemically defaulting on their aid commitments for decades. This $5.7 trillion debt is paid for by the 260 million children who are out of school, the half of humanity that lacks access to essential health services, and the 2 billion people who don't have enough to eat," Jose Maria Vera, the interim executive director of Oxfam International, said in a statement summarizing the report.
The report also notes that a large share of aid from rich states fails to comply with internationally recognized standards on aid effectiveness. Moreover, the aid is often used to meet the commercial interests of donor countries.
