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The OECD spent $4.1 trillion on bailouts during the economic crisis and €107 billion on development aid in 2010 (Photo: Notat)

EU short $19bn on development pledges

Western European countries are skipping out to the tune of $19 billion (€14bn) on the aid pledges they made to developing countries five years ago at a landmark G8 meeting, according to the Organisation for Economic Co-operation and Development.

Aid to poor countries in 2010 will be lower than donors promised five years ago at the 2005 Group of Eight meeting in Scotland - largely as a result of the economic crisis, says a report published on Tuesday by the OECD, the international club o...

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The OECD spent $4.1 trillion on bailouts during the economic crisis and €107 billion on development aid in 2010 (Photo: Notat)

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