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kobo
United Kingdom
7765 Posts |
 Posted - 29 Aug 2011 : 02:20:11
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1. JOLLOF NEWS African Summit Raises Fraction of $1.4bn Famine Fund
Sunday, 28 August 2011 22:53
"Oil-rich Nigeria and powerhouse South Africa pledge pittance compared with smaller neighbours.
African leaders have come under fierce criticism after a much-delayed African Union summit to tackle the food crisis in the Horn of Africa raised less than 4 per cent of the shortfall needed. Only four heads of state – from Ethiopia, Somalia, Djibouti and Equatorial Guinea – attended the meeting, designed to gather urgently needed funds to help save the nearly 13 million people now at risk of starvation on the continent.
Only 21 out of the 54 countries in the AU made pledges, with $20m of the $46m promised coming from three states – Algeria, Angola and Egypt. Aid groups say they need $1.4bn to meet the shortfall in tackling the emergency. Jean Ping, chairman of the AU commission, announced the summit had raised more than $350m, but the bulk of the sum was in fact a $300m loan from the African development bank and not a grant at all.
Small countries such as Gabon and the Gambia pledged sums way above what was expected from the size of their economies, but several bigger nations donated paltry sums.
Aid experts are particularly disappointed with the amounts pledged from oil-rich countries such as Nigeria, which promised $2m, and from South Africa, supposedly the continent's economic powerhouse, which offered $1.3m.
Written by Emily Dugan
Source: Independent.co.uk"
2. BBC NEWS UK AID ON FAMINE
"Two British philanthropists have donated a total of £1.8m ($3m) to help the estimated 12 million people facing starvation in the Horn of Africa."
"The British public has donated more than £50m since the Disasters Emergency Committee, representing 14 UK aid groups, launched its appeal in July."
"The £1.8m from the two philanthropists' foundations - 90% of which came from Ciff - will be distributed to agencies Action for Hunger, Medicins Sans Frontieres, and Concern Worldwide."BBC NEWS
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Edited by - kobo on 29 Aug 2011 02:30:41 |
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toubab1020
12306 Posts |
Posted - 29 Aug 2011 : 12:58:34
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"Only 21 out of the 54 countries in the AU made pledges, with $20m of the $46m promised coming from three states – Algeria, Angola and Egypt. Aid groups say they need $1.4bn to meet the shortfall in tackling the emergency. Jean Ping, chairman of the AU commission, announced the summit had raised more than $350m, but the bulk of the sum was in fact a $300m loan from the African development bank and not a grant at all."
That's about right,will these loans EVER be paid back in FULL or as usually happens the terms will be renegotiated and eventually written off.
This link will take you to the World Bank site and the tie up with The African development bank.
http://web.worldbank.org/WBSITE/EXTERNAL/COUNTRIES/AFRICAEXT/0,,contentMDK:20267225~menuPK:538673~pagePK:146736~piPK:226340~theSitePK:258644,00.html
I am no economist, but can someone explain to me how any loans made by the African development bank to MOST African countries will ever be repaid? and who will be the financial losers of non repayment?
bearing in mind that the original money "Appears" to becoming from the World Bank,who get THEIR money from who ?
I don't understand at all and I BET that no one else here does,will I get any comments on this posting I doubt it.
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"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
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Edited by - toubab1020 on 29 Aug 2011 13:10:58 |
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