France is considering reducing its development aid and environmental credits in 2016, according to the 2016 Finance bill presented on 30th September during a cabinet meeting. According to official documents, the “Public Development Aid” (APD) mission is allocated payment appropriations of €2.60 billion next year against 2.77 in 2015. The “Environment, Development and Sustainable Mobility” mission is granted an amount of €6.49 billion, against 6.59 in 2015.
These reductions are at odds with the recent commitments of President François Hollande to increase financing for these sectors. During a speech given on 27th September at the UN General Meeting, François Hollande promised to increase by €4 billion per year the public development aid and this from 2020. He also announced an increase in environment funding from France by €2 billion per year in 2020.
The disappointment of NGOs is great. “This is a rude awakening”, Christian Reboul, Financial Development Manager for Oxfam, commented. “We come out of the UN General Meeting, where a big claim was made: to eradicate poverty in the next fifteen years. François Hollande took over this commitment, but we do not see the implementation of his announcements in the presentation of the 2016 Finance bill from the government. This is the 5th year in a row of cuts to the public development aid”, he added.
In 2014, France has devoted only 0.36% of its GDP to APD, less than the 0.70% target set by the UN and fulfilled by only 5 countries, Denmark, Luxembourg, Norway, Sweden and the United Kingdom.
A $147M Novastar Ventures fund backed by major Japanese firms offers co-investment rights int...
ECOWAS and IMF sign cooperation framework to strengthen policy alignment West Africa’s grow...
West African Development Bank plans CFA6,500 billion ($11.5 billion) in financing for 2026–2030. ...
Coca-Cola will invest $1.03 billion in South Africa by 2030 to expand capacity and distributi...
West African Development Bank allocates $131.8 million to support cotton sectors in Burkina F...
Putin proposes Russia-Egypt grain and energy hub to boost trade Egypt seen as strategic hub for redirected Russian exports Project faces uncertainty...
Djibouti launches École 42 digital training network with international partnership Program offers peer-learning, no degrees, focusing on practical tech...
Failing to anticipate market shifts can be costly for African businesses operating in increasingly competitive and volatile environments. Yet many still...
Project targets reduced errors, better traceability and fairness Initiative part of broader government digital transformation efforts Mauritania is...
“Dodji, l’Archet Vodoun” is a documentary about reconnecting with ancestral culture to understand one’s origins, following an initiation ceremony that...
The Bijagos Archipelago, located off the coast of Guinea-Bissau, stands as one of West Africa’s most extraordinary island systems. Made up of around forty...