Around 40% of the European Commission’s Overseas Development Aid (ODA) goes to Africa every year. The continent has received more than a quarter of the €2.7 billion increase in the aid budget since 2005 and, in 2009, aid for trade to the African, Caribbean and Pacific States increased to €3.6 billion. But where does the money end up?
Africa received nearly €42.7 billion in overseas development assistance (ODA) in 2011, nearly triple the amount a decade before. But the figures also represented a 35% cut on the 2006 aid budget, when G8 leaders agreed to write off €29.9 billion of debt – which might never have been repaid – and include the largesse in their ODA declarations.