The world's richest nations greatly exaggerate their aid to poor countries – with the US, the worst offender, giving only 0.02% of its income in real assistance, says a study released today by ActionAid International.
The report, which can be downloaded at http://www.actionaidusa.org/Action Aid Real Aid.pdf says that some two-thirds of the money donated by the world’s wealthiest countries is in actuality “phantom aid” that is not genuinely available for poverty reduction in developing countries.
Phantom Aid is aid that is diverted from poor nations for other purposes within bureaucratic aid systems.
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