The annual meeting of the Development Assistance Committee (DAC) of the Organisation for Economic Co-operation and Development (OECD) began in Paris on Monday (30 June).
The annual meeting of the Development Assistance Committee (DAC) of the Organisation for Economic Co-operation and Development (OECD) began in Paris on Monday (30 June). Delegates from several industrialised nations and a number of oil-producing companies met to discuss aid for the Third World.
Much of the discussion this year was expected to focus on the contributions from the oil-producing nations...with the hope that they would substantially increase their contributions to O.E.C.D. aid programmes.
Until last year, the organisation was dominated by western countries who between them gave 10-billion U.S. dollars (4.6 billion pounds sterling) a year to underdeveloped countries.
But the situation has since changed. The oil-producing states, which used to give only a few hundred million dollars a year, last year committed more than 7,500 million U.S. dollars (GBP3,800 million pounds sterling). On some occasions their aid has far exceeded Western contributions. An example of the change in roles occurred after an earthquake killed 5,000 people in Pakistan last winter...and Libya, Saudi Arabia and the United Arab Emirates donated GBP17 million pounds sterling (37.4 million U.S. dollars), compared with Britain's GBP71,000 pounds sterling (156,000 U.S. dollars).