UK to cut climate aid to developing countries by 14% to 2bn a year in refocus'
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UK to cut climate aid to developing countries by 14% to 2bn a year in refocus'
"The move follows bitter rows with the Treasury, which wanted deeper cuts owing to pressure on spending resulting from the war in Iran. Overall, the UK's aid budget was slashed to 0.3% of gross national income, with programmes on health, education and humanitarian assistance all facing the axe."
"Under the previous five-year arrangement, the UK provided 11.6bn over five years, or about 2.3bn a year. The previous earmark of 3bn in funding for nature and forest projects has also been scrapped. The climate funding pledge abandons the previous practice of setting five-year budgets, to allow for longer-term projects."
"The Guardian understands the Treasury was arguing in key meetings last weekend that the overall aid budget should be slashed even further than the cuts, announced last year and only now being fully implemented, from 0.5% to 0.3% of gross national income. The Treasury argued that more money was needed for defence and to shore up the economy because of the war in Iran."
The UK government is reducing climate aid to developing countries by approximately 14%, bringing annual funding to roughly 2 billion pounds. This reduction is part of a broader cut to the overall aid budget, which has been slashed from 0.5% to 0.3% of gross national income. The Treasury pushed for these deeper cuts due to pressure on spending resulting from the war in Iran and defense requirements. Climate spending will total around 6 billion over three years, though experts suggest actual spending may be lower. The previous arrangement provided 11.6 billion over five years, approximately 2.3 billion annually. Additionally, the 3 billion earmark for nature and forest projects has been eliminated. The government is abandoning the previous five-year budget framework, which experts argue was more efficient for longer-term projects. Programs addressing health, education, and humanitarian assistance face significant reductions.
Read at www.theguardian.com
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