EU Warns of Aid Funding Gaps

Amid its growing aid disbursements, the European Union may incur a funding gap of up to 13 billion euros (USD17.7 billion) this year, said an EU document Reuters obtained.

The paper warned that “many member states” will commit shortfalls in aid targets while it estimated EU aid funding growth to up to USD75 billion. The document also noted that funding gaps for climate change initiatives might threaten EU’s standing in climate negotiations.

While the document did not identify countries missing their aid targets, the Organization for Economic Cooperation and Development had named France, Germany and Italy as among EU’s “worst performers.”

About the author

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    Tarra Quismundo

    Tarra Quismundo joined Devex Manila as a staff writer in October 2009 after more than six years of working as a reporter for the Philippine Daily Inquirer, a nationwide daily, for which she covered major breaking news in politics, military, police and international affairs. Tarra's Devex News coverage focuses on key Asian donors and top aid officials around the globe.