EDC increases aid
Published:Tuesday | October 7, 2008 | 1:54 PM
The European Development Commissioner (EDC) has committed to increasing aid for the poor in light of the global financial crisis, rising fuel prices and climate change.
EU Development Commissioner Louis Michel said the impact of global challenges on the world’s poorest countries is likely to worsen.
He said the EU’s Development Fund for poor countries would be increased by 35 percent.
The European Development Fund is an EU programme designed to provide aid to poor countries in Africa, the Caribbean and the Pacific.
The fund, reviewed every seven years, is currently worth US$30 billion.