The European Economic Recovery Plan and impact of financial crisis on humanitarian funding

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The European Economic Recovery Plan and impact of financial crisis on humanitarian funding
Tue, 09/12/2008 - 23:10

This new Citizens Consultation is very timely considering its theme of shaping our economic and social future. The European Economic Recovery Plan adopted last week by the Commission aims to restore consumer and business confidence, restart lending and stimulate investment in the EU's economies, create jobs and help the unemployed back into work. The new Consultation process can provide the public with a way to comment on and perhaps influence the recovery plan.

In addition from a social and globalised perspective, there is a need for EU Member States to maintain Overseas Development Assistance (ODA) to developing countries. The financial crisis is expected to have a severe impact on humanitarian funding, with some analysts projecting cuts in ODA of up to a third or more. The Consultation process can also provide a mechanism to permit citizens to ensure that EU Members States do not slacken off on meeting the Millennium Development Goal targets now that there is a temptation to reduce spending.