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Last year, the European Network for Debt and Development (Eurodad) said developing country firms are often squeezed out of the equation by powerful multinational and donor country firms and complex procurement systems, even when aid is formally "untied".
A report, State of Finance for Developing Countries, published on Thursday by the European Network on Debt and Development (Eurodad), said lost resources – money that should have been invested but instead left the country – accounted for more than 10% of gross domestic product (GDP) for developing countries since the 2008 financial crash.
As budgets tighten, some EU states are using "ambiguous and outdated" international rules on what can count as official development assistance (ODA) to include high-interest loans to developing countries in their annual aid figures, said the European Network on Debt and Development (Eurodad).
Forum on Debt and Development, the Netherlands.
Tove Maria Ryding, tax justice coordinator, European Network on Debt and Development (Eurodad), Brussels, Belgium @eurodad @toveryding Tove is a tax justice coordinator with Eurodad.
The European Network on Debt and Development, or Eurodad, decried the failure to commit to an international tax body that would include the participation of developing nations.
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In their effort to have a bigger say in decisions that affect the developing world, President Thabo Mbeki of South Africa and President Olusegun Obasanjo of Nigeria went to Japan last year during the meeting of the major industrial powers to lobby for debt relief and development assistance.
Through grants, loans, guarantee funds or contracts of debt relief and development, finance projects, programmes and studies, it supports partners in the south to strengthen their capacity.
POST PROPERTIES INC., Atlanta, the largest apartment developer in Georgia, said it had sold two apartment developments in Dallas and Irving, Tex., and land in Charlotte, N.C., for $99 million to pay down debt and finance development.
This included subsidized oil for Cuba, Nicaragua, and Bolivia; the purchase of public debt in Argentina; and development projects in Haiti.
"Whether it is poverty or debt or aid and development, or infectious diseases or governance and the rule of law, we need a far broader concept of how we deal with these security issues for today's world," Mr. Blair said.
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