Important note: Information in this article was accurate in 2004. The state of the art may have changed since the publication date.

Reuters NewMedia - December 9, 2004
Katherine Baldwin

He said 2005, when Britain chairs the group of rich nations, marked a vital test for the world community, when countries must follow through on pledges made five years ago.

Chancellor of the Exchequer Brown said he would visit the United States next week to seek fresh backing for 100 percent multilateral debt relief for poor countries.

He also wants to enlist U.S. support for his scheme to double aid to the world's poorest nations under the so-called International Finance Facility (IFF). Washington has so far failed to endorse fully the IFF.

"My proposal going to America next week is that they join us on this 100 percent debt relief which actually can be achieved in February if we get the momentum from the whole world community," Brown told BBC Radio.

"What we need from America is effectively the new Marshall Plan ... where we are prepared to put sufficient resources in Africa and developing countries," he added, referring to his IFF scheme.

The IFF would double aid to $100 billion a year by issuing bonds in the capital markets using donor countries' long-term funding commitments as collateral -- effectively securitising their aid budgets, Brown says.

He sees the scheme as essential to meet the Millennium Development Goals, which were agreed in 2000 by 189 countries and include halving poverty and reducing infant mortality by two-thirds by 2015.

Monday, humanitarian agency Oxfam said rich countries' failure to meet their aid promises will result in the deaths of around 45 million children in the next decade.

In a speech later Wednesday, Brown will set out Britain's goals for 2005, when it also holds the European Union presidency in the second half of the year.

Aside from debt relief and setting up the IFF, Britain wants to advance world trade talks and introduce measures to help countries meet health and education targets by sponsoring research and the advance purchasing of drugs for tuberculosis, AIDS and malaria, Brown said.

Moves by Washington and other nations on bilateral debt relief to poor countries was "something," the chancellor said.

"But it's not enough. We've got to have 100 percent multilateral debt relief as well," he added.

Washington in September proposed up to 100 percent multilateral debt relief for many poor nations but the Group of Seven rich nations club failed to reach agreement on the idea at a meeting in October.

"Next year is a test," Brown said. "If after five years of making promises the world is not prepared to honor them, then people will be justified in saying they promised but they didn't produce the results."

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