EU to up ODA to 0.7pc by 2015: Mirza Aziz

FE Team | Published: December 04, 2008 00:00:00 | Updated: February 01, 2018 00:00:00

The European Union (EU) has assured an international conference in Doha, Qatar of increasing their Official Development Assistance (ODA) to 0.7 per cent of GNI by 2015 for fulfilling their commitment as per Monterrey Consensus, reports UNB.
Finance Adviser Dr Mirza Azizul Islam disclosed the EU's reaffirmation of the ODA support at a press briefing at the Planning Ministry in the city Wednesday, after returning home from the Follow-up International Conference on Financing for Development.
He said the EU reaffirmed in a time-bound manner that their ODA would increase to 0.56 per cent by 2012. Other developed countries including Japan and the USA gave assurance to fulfill their commitment but without giving any timeframe.
"All the countries also committed that they would not reduce ODA in the short term despite the global financial crisis," the Adviser said, replying to a question. He added that the ODA would not decline as the amount proportionate to their respective budget is very small.
Asked about his earlier apprehension that foreign aid flow to Bangladesh would decline in the fiscal 2009-2010, he said: "This is due to lack of enough project plan."
Dr Aziz said there would be no problem of external assistance if the next government could develop bankable projects by then. "They would get one and a half years to prepare the projects."
The EU response came after developing countries, particularly Bangladesh, raised concern over achieving the Millennium Development Goals (MDGs) due to multiple effects of the declining ODA, duty-free and quota-free market access, climate change, and energy and food security.
"The issues have been reflected in the final outcome document," said the Finance Adviser.
The Finance Adviser in his statement at the plenary session of the conference Monday spoke on behalf of the LDCs, apprehending that the global financial crisis is likely to cast a serious impact on exports, FDI, ODA and remittances of the LDCs like Bangladesh.