The EU is unlikely to achieve its goal of helping the poorest countries by 2030

The European Union is unlikely to achieve its goal of directing at least 25 percent of trade and development aid to the least developed countries by 2030.

According to an audit by the European Court of Auditors, this share has fallen by six percentage points since 2015 and amounted to only €17.2 billion out of a total of €106 billion between 2017 and 2022.

The Union had already set this target in 2017, but lacked a concrete plan for how to achieve it. In practice, therefore, support for the weakest economies – such as Angola, Rwanda, and Cambodia – has stagnated, with some projects potentially unsustainable, according to the auditors. The European Commission has committed to reviewing the situation.

According to Reuters, global trade pressures are once again coming to the fore, with the US imposing tariffs, China removing barriers to African exports, and Africa seeking ways to achieve greater integration.

(reuters, mja)