By Jaya Ramachandran | IDN-InDepth NewsReport
GENEVA (IDN) – Development assistance alone will not suffice to lead the way out of poverty. It must be backed by Aid for Trade. Inspired by this belief, the powerful European Commission, the OECD and WTO, are making an impassioned plea for boosting Aid for Trade (AfT) flows, arguing that these result in lower trade costs and improved trade performance.
One in six people in the world today live on less than a dollar a day, argues the European Commission. These poor people need decent jobs, in order to make a living and provide for their families. At the same time, governments need tax revenue to invest in social services and encourage economic growth.