Over the last few years, many of the largest donors in Europe have made cuts to their aid budgets. First it was the United Kingdom. Now Germany and France have followed suit. Some of the Nordic countries — traditionally among the most generous of donors — are getting in on the act. Even the European Union is reallocating money away from aid.
But what’s going on? Why is this happening?
It comes down to a combination of economics, politics, and geography, according to panelists at last week’s Devex Pro event: Why are European donors slashing their aid budgets?