United Nations Secretary-General Ban Ki-moon urged donors not to slow down their aid-for-trade spending at the end of the Global Review of Aid for Trade in Geneva on Tuesday (July 19).
Ban said aid for trade is critical to building a global partnership for development, which is the eighth Millennium Development Goal. He also lauded donors for mobilizing resources for what now accounts for one-third of official development assistance.
“However, all is not well,” Ban said, as reported by the U.N. News Center. “As we all know, this is a time of economic uncertainty. Budgets are tight. But difficult fiscal conditions are no excuse for letting up our efforts; they underscore the need for collective action.”
But he called on donors to ensure that aid for trade does not displace current development assistance.
According to the Organization for Economic Cooperation for Development, aid-for-trade flows reached $40 billion in 2009, or an increase of 60 percent since 2005.
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