§ 23. Tony CunninghamTo ask the Chancellor of the Exchequer if he will make a statement on progress in international efforts to relieve world poverty. [53565]
§ Mr. BoatengThere has been positive progress made recently. In March, the United Nations conference on financing for development held in Monterrey helped to mobilise substantial increased aid commitments
In March EU member states agreed to increase their aid volumes in the next four years so that collectively an EU average of 0.39 per cent. of national income is reached by 2006–a seven billion dollar a year increase in aid from 2006, and potentially cumulatively 20 billion dollars before then.
Furthermore, the United States has committed to increasing its aid by five billion dollars a year from 2006–a 50 per cent. increase in the US aid budget.
The Monterrey Consensus—which sets out a balanced agenda of partnership and mutual accountability—was formally adopted by UN members; particularly welcome are the emphasis to good governance and the rule of law.
The recent spring meetings on the IMF and World bank discussed progress made at Monterrey, and both institutions have given their full support. Aid increases and a global agreed agenda set out in the Monterrey consensus, will help provide a stronger international foundation on which to relieve world poverty.