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Vol 54 No 4

Published 15th February 2013

The new poor give less

As EU members cut public spending, funds to Africa shrink and promised aid percentages are under pressure

The European Union’s austerity measures are taking an increasing toll on concessional development finance and grants to African and other developing countries. At their summit on 8 February, EU leaders agreed to a tentative deal for a 960 billion euro (US$1,288 bn.), seven-year budget – €13 bn. below the figure the EU Council President, Herman van Rompuy, had proposed in November.

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