The ‘aid industry’ fooled many into believing it was a necessary tool for development. But following the Busan forum on aid effectiveness, its time to rethink a world without it, writes Yash Tandon.
A British parliamentary inquiry has heard that more than $650m ( £420m) worth of European Union aid to Africa may have been badly spent. In some cases, not enough local people were trained in how to maintain the necessary equipment - so after a few years it just stopped being used. But the biggest problem was finance - or getting long-term agreement from the communities and governments of poorer countries on how the water supply would be funded
KYIV, December 11 /Ukrinform/. Ukraine is asking the European Union to allocate EUR 20 billion in financial assistance as part of the signing of an Association Agreement. Ukrainian Prime Minister Mykola Azarov said this at a government meeting on Wednesday.
illicit financial flows - "All that is required is a willing buyer and a willing seller agreeing to the mispricing arrangement, usually verbally, whether in arms length or related party transactions."