Overseas dev’t aid drops due to crisis in rich countries

Rappler.com

The austerity measures implemented by countries mostly in the west to deal with their ongoing economic crisis have trickle effect on the developing countries. According to OECD data, overseas development aid has dropped since 2010. In 2011 alone, aid was cut by 2.7%. These cuts are the first in 14 years and will likely continue, putting lives of the poor at risk as countries all over the world are hit by slowdown in economic activity, trade and investment. In 2011, the OECD members gave $133.5 billion in official development assistance. 

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