Wednesday, July 01, 2009

Overseas Development: $2 Trillion in 50 Years - Banks: $18 Trillion in 1 Year

Says it all really:

"Since the inception of aid (overseas development assistance) almost 50 years ago, donor countries have given some $2 trillion in aid. And yet over the past year, $18 trillion has been found globally to bail out banks and other financial institutions. The amount of total aid over the past 49 years represents just eleven percent of the money found for financial institutions in one year.

The UN Millennium Campaign is urgently calling on rich countries gathering at this week's high-level summit on the economic crisis to make no further excuses that they lack resources and to urgently deliver on their aid commitments."

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