Amid public discontent with the country’s sluggish economic performance, Finland’s newly elected government has decided to slash development assistance by 43 percent.
Amounting to 1 billion euros ($1.1 billion) this year, the Finnish aid budget will decrease by 300 million euros in 2016. Of this, 100 million euros of grant aid will be converted into loans for companies committed to corporate social responsibility.
Meanwhile, revenue from emission allowance auctions — which reached 69 million euros in 2015 — will already cease to be channeled to development cooperation.
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About the author
Manola De Vos
Manola De Vos is an Engagement Lead for Devex’s Analytics team in Manila. She leads and designs customized research and analysis for some of the world’s most well-respected organizations, providing the solutions and data they need to grow their partner base, work more efficiently, and drive lasting results. Prior to joining Devex, Manola worked in conflict analysis and political affairs for the United Nations, International Crisis Group and the EU.
