## IMF Survey: Where's the New Aid Money?

_IMF News, July 20, 2007_

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**Canonical URL:** [IMF Survey: Where's the New Aid Money?](https://www.imf.org/en/news/articles/2015/09/28/04/53/sonew0720a)

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## Bibliographic details
- Authors: Jeremy Clift IMF Survey
- Published: July 20, 2007

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### Overview
- At the 2005 Gleneagles summit, the Group of Eight (G8) leaders promised to double aid to sub-Saharan Africa by 2010.
- Two years later, there is little sign that the promise is translating into increases in overall aid to most sub-Saharan countries.
- On balance, according to the World Bank's Global Monitoring Report 2007, there is "scant evidence of any substantial scaling up of aid on the horizon."

### Aid trends and figures (DAC/OECD reporting)
- Aid to all countries (including middle-income recipients) declined, in constant 2005 dollars, to $103.9 billion in net aid in 2006, down by 5.1 percent from 2005.
- The $103.9 billion figure includes $19.2 billion of debt relief, notably exceptional relief to Iraq and Nigeria.
- Excluding debt relief grants, net aid fell by 1.8 percent in 2006, according to preliminary data published by the OECD.
- While in real terms the decline in official development assistance in 2006 was the first reduction since 1997, aid levels were still the highest recorded, with the exception of 2005.

### Other donors, private sources, and global health funds
- Other forms of aid are on the rise, including from private sources, health funds, and emerging market donors, such as China.
- China's official assistance to Africa in 2006 was estimated at $19 billion and it has said it will step up aid further.
- Overall aid from private sources doubled during 2001-05 to $14.7 billion, according to the World Bank.
- Global funds to combat HIV/AIDS are estimated to reach $9 billion in 2007, according to the United Nations Development Program.

### Implications for the Millennium Development Goals (MDGs)
- Several recent studies indicate further progress toward the MDGs would require substantial net increases in official development assistance.
- Estimates by the World Bank and the United Nations suggest that additional official assistance in the order of $40-60 billion a year would be needed to meet the MDGs.
- Based on the G8 commitment in Gleneagles in 2005 to double aid to Africa, the OECD estimates that assistance from the DAC countries would rise by $50 billion in real terms between 2004 and 2010.

*IMF Survey online — July 20, 2007*

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## Content in this bundle

- [072007cspdf (PDF)](/-/media/websites/imf/imported/external/pubs/ft/survey/so/2007/esl/072007cspdf.pdf){rel="external" type="application/pdf"}
- [072007cfpdf (PDF)](/-/media/websites/imf/imported/external/pubs/ft/survey/so/2007/fra/072007cfpdf.pdf){rel="external" type="application/pdf"}

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## References

- [https://www.imf.org/en/News/country-focus](https://www.imf.org/en/News/country-focus)
- [PRESS CENTER](http://presscenter.imf.org/)
- [In The News](https://www.imf.org/en/news/search)
- [IMF and aid flows](http://www.imf.org/external/np/pp/2007/eng/071907.htm)
- [https://www.imf.org/en/home](https://www.imf.org/en/home)

_Source: https://www.imf.org/en/news/articles/2015/09/28/04/53/sonew0720a_