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World Poverty Reduction

Volume 406: debated on Tuesday 10 June 2003

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To ask the Chancellor of the Exchequer what contribution the UK is making to ensure that the 2015 targets for reducing world poverty are met. [117971]

Making progress on the 2015 Millennium Development Goals is a joint HM Treasury Public Service Agreement with the Department for International Development.The Government has made substantial increases to the aid budget. The UK's level of ODA will increase by £1.5 billion to reach 0.40 per cent. of GNI in 2005–06. This is the largest ever increase in UK aid, making a 93 per cent. real terms increase since 1997.By 2005–06, DflD's budget will grow to nearly £4.6 billion a year by 2005–06, including a £1 billion bilateral programme for Africa.However, to meet these goals. a UN panel and the world bank have estimated that the current level of aid will have to double. The UK Government continues to press the urgent case for an International Finance Facility to raise the additional finance needed.Agreement was made in the Communiques of recent G7 and G8 meetings to continue to focus on the Millennium Development Goals, and their financing, including the International Finance Facility. Finance Ministers' will report back to Heads of State on the IFF in advance of the Annual Meeting of the world bank and International Monetary Fund in September 2003.