Important note: Information in this article was accurate in 2004. The state of the art may have changed since the publication date.
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 29, 2004
Britain has dubbed the next year as "make or break" for development and says its leadership of the G8 should be judged on what it achieves to tackle poverty in Africa.
Brown will fly to Tanzania in the second week of January and from there to Mozambique and South Africa to bring attention to health and education problems, the UK Treasury said on Wednesday.
The Chancellor of the Excheckr wants Britain's G8 allies to agree to multilateral debt relief, set a timetable for raising development aid to 0.7 percent of national income and sign up to his scheme to double Third World aid.
While France and Italy have so far backed the proposal for the so-called International Finance Facility (IFF), Brown will raise pressure on the U.S, Japan and Germany to follow suit at a February meeting of G7 finance ministers in London.
Brown believes the IFF would effectively double development spending to $100 billion a year by issuing bonds in the international capital markets using donor countries' aid budgets as collateral.
He will also try to broker a deal to write off the debts of the world's poorest countries and fund advance bulk purchases of drugs to combat malaria and AIDS.
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