Global conference floats solutions to combat sharp drop in official development assistance
A global conference in London discussed the need for stronger links between trade and foreign aid amid a significant decline in official development assistance (ODA). Canada and the UK are among countries cutting their foreign aid budgets, prompting calls for innovative approaches to development funding. Non-governmental organizations expressed caution about relying too heavily on private investment as a substitute for traditional aid.
- ▪Official development assistance has fallen by 23.1 percent between 2024 and 2025, marking the largest contraction on record.
- ▪Canada is set to cut $2.7 billion in foreign aid over the next four years.
- ▪NGOs have warned that while private finance can complement aid efforts, it cannot replace ODA, especially in crisis situations.
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Open this photo in gallery:UNICEF staff and airport workers unload medical supplies in Bunia, Democratic Republic of Congo, on Tuesday as part of efforts to contain the Ebola outbreak in the region.Gradel Muyisa Mumbere/ReutersShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountCanada’s International Development Minister says there should be a greater link between trade and foreign aid, plus more incentives for private investors to play a role in funding international development programs.Randeep Sarai, the Secretary of State for International Development, told a global conference in London on Tuesday, “We need to first stop treating trade and development as two separate things.
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