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.