EU 2005 Brussels The European Consensus on Development

Sectors : Aid volume
Organisation : EU
Date made: 
Heads Of State
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Commitments in: Financing for Development - Aid volume

“23. ...The EU has adopted a timetable for Member States to achieve 0.7% of GNI by 2015, with an intermediate collective target of 0.56% by 2010…These commitments should see annual EU aid double to over €66 billion in 2010. ... At least half of this increase in aid will be allocated to Africa, while fully respecting individual Member States priorities' in development assistance. Resources will be allocated in an objective and transparent way, based on the needs and performance of the beneficiary countries, taking into account specific situations.”


“108. The added value of global initiatives and funds will have to be assessed on a case-by-case basis after Commission consultation with Member States and, where appropriate, with the European Parliament as regards budget provision. The Commission will draw up criteria for Community participation in global funds and contributions to them. It will give priority to initiatives that will help achieve the MDGs and increase the availability of global public goods.”