The Citizen (Dar es Salaam)
5 November 2008
Denmark will increase development assistance worldwide despite the current turbulence in global financial markets, its development cooperation minister said.
Experts fear the current world financial turmoil could lead the United States and European countries to slash their aid commitments while they pump hundreds of billions of dollars into markets to prop their economies. "Not in Denmark.
There is a political will to fulfil our commitments and the commitment is that the budget should increase in the coming years," Ulla Tornaes told reporters.
"I would very much encourage other countries not to let their ODA (Overseas Development Assistance) be affected by the current situation with the financial crisis."
Tornaes was speaking to reporters on the sidelines of a state visit by Denmark's Queen Margrethe II and the Prince Consort to Tanzania.
Denmark is among the world's largest per capita aid donor, with its ODA now at 0.81 per cent of gross national product, or about 15 billion crowns. It plans to increase aid to 0.82 per cent of GNP, or about 15.3 billion crowns in 2009.
Africa is Denmark's top aid recipient, receiving over 60 percent of its assistance.
Tanzania is among its biggest beneficiary in Africa, with a total 482 million crowns allocated this year and the figure is expected to gradually rise to 547 million crowns in its 2010 budget, according to Danish government statistics.
Denmark's markets have so far been relatively unharmed by the global financial meltdown. It was one of the first countries to promise an unlimited guarantee on deposits in its banks.
- The Citizen Reporter & Agencies
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