UNITED NATIONS, Oct 12: Underscoring that developing countries are not much better off today since the amount of aid going into development projects last year remain at the same level as in 1990, a top UN economic official said an increase is essential to meet the UN target of cutting extreme poverty by half by 2015.
Launching the World Economic Survey 2005, the Undersecretary-General Jose Antonio Ocampo said official development assistance is expected to increase substantially in the next five years, but more is necessary, along with a way to ensure that it goes to the countries most in need.
Despite increases in official direct assistance (ODA) to developing countries, much of the funds have been used to pay off debt, rebuild after conflicts and natural disasters, and assist people affected by humanitarian crisis, Mr Ocampo told a press briefing on Tuesday.
The report called on international donors to pay closer attention to the composition and quality of aid in order to correct the problem.
