The European Union is failing to live up to its pledge to direct more trade-related aid to the world’s poorest countries, according to a new report from the European Court of Auditors, or ECA. The report warned that the bloc is far off track to meet its 2030 target of 25% and recommends readjusting its commitment to something more reachable.
The special report, released Tuesday, found that the share of EU and member state aid-for-trade funding going to the least developed countries, or LDCs, has not only stagnated but declined — dropping to just 12% in 2022, well below the 25% commitment set for 2030.
With climate and debt vulnerabilities mounting, the findings raise fresh questions over whether the EU can translate political pledges into meaningful trade gains for LDCs.
About the author
Jesse Chase-Lubitz
Jesse Chase-Lubitz covers climate change and multilateral development banks for Devex. She previously worked at Nature Magazine, where she received a Pulitzer grant for an investigation into land reclamation. She has written for outlets such as Al Jazeera, Bloomberg, the Organized Crime and Corruption Reporting Project, and The Japan Times, among others. Jesse holds a master’s degree in Environmental Policy and Regulation from the London School of Economics.
