Despite a 37 percent increase in real terms since 2004, there is still a $19bn shortfall on the promises made in 2005 at the G8 summit in Gleneagles. Africa has only received $11bn of its pledged $25bn.
But the figures from the Organisation for Economic Cooperation and Development (OECD) showed Western aid flows hit their highest level ever in 2010, reaching $128.7bn, up 6.5 percent on 2009. The US was still the world’s single biggest donor, giving $30.2bn. Despite the poor performance of Italy, Spain and Greece, the EU bloc supplied $53.8bn in 2010. Other new donors are upping their game, and Turkey increased its aid programme by 23.8 percent.
Japanese aid stood at $11bn, increasing by 11.8 percent over the previous year. But with a $235bn reconstruction bill for the tsunami and earthquake, the government is mulling proposals to cut the $6.7bn it had allocated for foreign aid in 2011 by 20 percent. The OECD projects that aid to Africa will increase at 1percent a year between 2011 and 2013 – not enough to keep up with population increases.
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We believe that Africa is poorly represented, and badly under-estimated. Beyond the vast opportunity manifest in African markets, we highlight people who make a difference; leaders turning the tide, youth driving change, and an indefatigable business community. That is what we believe will change the continent, and that is what we report on. With hard-hitting investigations, innovative analysis and deep dives into countries and sectors, The Africa Report delivers the insight you need.
