At Gleneagles, the G8 leaders to replenish the Global Fund to fight AIDS, TB and Malaria so that by 2010 everyone will have access to treatment for HIV/AIDS. They also announced an increase in aid of $48bn by 2010. However, about two-thirds of thid money had already been promised. It would take $60bn of new money in 2006 to meet the Millenium Development Goals, but the G8 deal will provide only $4bn next year.
The increase in aid announced by the G8 means that by 2010 a child will die every 3.5 seconds, instead of every 3 seconds, because of poverty.
Progress is also needed to cut the harmful strings attached to aid, whereby developing countries have to agree to economic conditions imposed by the World Bank and IMF, or agree to buy goods and services from donor countries, in order ro receive aid. Aid also needs to be better targeted at those who need it most.
So far none of the G8 countries is meeting the UN target of providing 0.7% of their wealth for international aid, a promise made in 1970.
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