The European Union expects to increase the volume of aid it provides to developing countries, particularly those in Africa, by 40 percent by 2015, European Commissioner for Development Andris Piebalgs has said.
“Four out of the 27 European countries have already devoted 1 percent of their GDP to the aid for Third World countries. Several others are doing the same and we hope that by 2015, all member countries will reach the 0.7 percent of their GDP,” Piebalgs told reporters at the conclusion of the 16th African Union summit held Jan. 30-31 in Ethiopia.
Piebalgs added that the European Commission “strongly backs” French President Nicolas Sarkozy’s proposal to tax international financial transactions, the Pan-African News Agency reports.
“Actually, we rely on the double French chairmanship of G-20 and G-8 for the idea to materialize,” Piebalgs said.