“FINANCING FOR DEVELOPMENT
Volume of ODA
4. ...At present, four out of the five countries, which exceed the UN target for ODA of 0,7%, of GNI are member states of the European Union. Five others have committed to a timetable to reach this target. While reaffirming its determination to reach these targets, the EU agrees to a new collective EU target of 0,56 % ODA/GNI by 2010, that would result in additional annual €20bn ODA by that time.
i. Member States, which have not yet reached a level of 0,51 % ODA/GNI, undertake to reach , within their respective budget allocation processes, that level by 2010, while those that are already above that level undertake to sustain their efforts;
ii. Member States, which have joined the EU after 2002, and that have not reached a level of 0,17 % ODA/GNI, will strive to increase their ODA to reach, within their respective budget allocation processes, that level by 2010, while those that are already above that level undertake to sustain their efforts;
iii. Member States undertake to achieve the 0.7% ODA/ GNI target by 2015 whilst those which have achieved that target commit themselves to remain above that target; Member States which joined the EU after 2002 will strive to increase by 2015 their ODA/GNI to 0.33%.”
“FOCUS ON AFRICA
21. The EU considers the development of Africa a priority and will strengthen its efforts to support African countries to reach the MDGs. The EU will also strengthen its cooperation with the UN and other international partners to that end.
22. The EU will increase its financial assistance for Sub-Saharan Africa and will provide collectively at least 50% of the agreed increase of ODA resources to the continent while fully respecting individual Member States priorities’ in development assistance. All measures taken as regards policy coherence and quality of aid will be applicable to Sub-Saharan Africa as a priority.”