EU States to Oppose Release of Crisis Aid for Developing World

European states intend to thwart the plan of the European Union's executive arm to disburse some EUR500 million (USD677 million) in crisis aid for poor nations,

reported. The bloc's executive unit announced April that it would accelerate the disbursement of some EUR4.3 billion of previously pledged funding for the developing world this year. "This release of reserve funds is backed by (EU Development Commissioner) Louis Michel and Sweden, but most member states are resisting that request, arguing that existing money should be better spent," an EU official said. "They want to concentrate more on the quality of spending, faster disbursement of funds and projects that add value."

About the author

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    Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.