This goal is primarily about redistributing wealth through aid and investment from wealthy countries to impoverished economies. There are huge questions regarding why poor countries should be in any debt to world banking institutions. After all, economic development in most such contries has been stilted due to the initial and insidious impacts of colonial exploitation.
Goal 8: Develop a global partnership for development
On the basis of current 2010 budget proposals, as well as the lower GNI forecasts, total Official Development Aid for 2010 is projected to be $108 billion (at 2004 prices).
TARGET: Address the special needs of the least developed countries, landlocked countries and small island developing states
The shortfall in aid affects Africa in particular. At the 2005 Gleneagles Summit, G-8 members projected that their commitments, combined with those of other donors, would double ODA to Africa by 2010. Preliminary data for 2009 show that bilateral ODA to Africa as a whole rose by 3 per cent in real terms. For sub-Saharan Africa, bilateral aid increased by 5.1 per cent in real terms over 2008. It is estimated that Africa will receive only about $11 billion out of the $25 billion increase envisaged at Gleneagles, due mainly to the underperformance of some European donors who earmark large shares of their aid to Africa.
Aid remains well below the United Nations target of 0.7 per cent of gross national income for most donors. In 2009, the only countries to reach or exceed the target were Denmark, Luxembourg, the Netherlands, Norway and Sweden. The largest donors by volume in 2009 were the United States, followed by France, Germany, the United Kingdom and Japan.
TARGET: Develop further an open, rule-based, predictable, non- discriminatory trading and financial system
TARGET: Deal comprehensively with developing countries’ debt
TARGET: In cooperation with the private sector, make available the benefits of new technologies, especially information and communications
All the data listed in this blog set are pulled from the Millenium Development Goals Report of 2010, a progress report issued by the UN earlier in 2010. Each goal can help us understand some of the pressing crises of the world, bringing it into focus in our own lives. Click here to find out some ways to get involved and make this new year time to reflect on the needs of the world.