Spain to boost aid to poor countries in 2008

12th September 2007, Comments 0 comments

12 September 2007, MADRID- (AFP) - Spain will put aside O.5 percent of its gross domestic product towards development assistance to the world's poorest nations in 2008, Prime Minister Jose Luis Rodriguez Zapatero said.

12 September 2007

MADRID- (AFP) - Spain will put aside O.5 percent of its gross domestic product towards development assistance to the world's poorest nations in 2008, Prime Minister Jose Luis Rodriguez Zapatero said.

If his Socialist government is reelected next year, the amount will be raised to 0.7 percent of Spain's GDP by the end of the government's next four-year term in office, he added.

Spain is to hold a general election in March 2008. Each legislature usually lasts four years.

"Spain would be one of leading nations in terms of the fight against poverty and inequality," he said during a speech before Socialist lawmakers.

The world's richest nations agreed to provide 0.7 percent of their output in development aid by 2015 as part of the Millennium Development Goals, a series of targets aimed at reducing poverty and living standards around the globe.

Only five nations have met or surpassed the target: Denmark, Luxembourg, the Netherlands, Norway and Sweden.

Spain provided 0.32 percent of its GDP in development aid in 2006, compared to an average of 0.42 percent for all of Europe, according to figures from the Paris-based Organization for Economic Cooperation and Development.

[Copyright AFP with Expatica]

Subject: Spanish news

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