Private investment dominates, systemic issues ignored as EU Ministers discuss the future of development finance
EU Ministers met on May 26 to finalise the EU’s position ahead of the crucial UN Financing for Development (FFD) summit in Addis Ababa. The EU position reveals that the Ministers prefer to promote a controversial and problematic reliance on private finance rather than tackling crucial systemic issues such as the need for global tax reform. Other issues addressed during the meeting were the existing aid commitments as well as tax justice. However, according to the head of Tax Justice and Financing for Development at Eurodad, Tove Ryding, there is a very real risk that the international negotiations will collapse if the EU Ministers don’t become more ambitious. Read more …