§ 18. Mr. Neil TurnerTo ask Mr. Chancellor of the Exchequer, If he will estimate the cost of meeting the anti-poverty targets of the millenium development goals. [99479]
§ John HealeyThe UN estimates that global aid flows will need to be doubled in order to meet the Millenium Development Goals by 2015. This means that an extra $50 billion is needed per year.
The UK is seeking to develop the proposal for an International Finance Facility in partnership with the international community. The facility would borrow on the international capital markets to raise the amount of development aid for the years to 2015 from $50 billion a year to $100 billion dollars per year.