24 Jun 2009

Aid to finance sector 10 times more than to poor countries - UN

1:59 pm on 24 June 2009

The United Nations millennium campaign says the global financial sector has received nearly 10 times more in financial aid in the past year, than poor countries were given in almost half a century.

The campaign says donor countries have given about $US2 trillion in aid since overseas development assistance began.

However, almost 10 times as much money had been found over the past year to bail out financial institutions.

Campaign director Salil Shetty says the figures show industrialised nations could no longer use lack of money as an excuse to renege on promises made to poorer countries.