Tomorrow, March 12th,  all EU Development Ministers will get together to discuss the EU’s position on how to finance the forthcoming set of global anti-poverty goals.

The meeting will lay the foundations of the EU’s position ahead of the Financing for Development Conference in Addis Ababa in July. This conference brings together all countries to decide on how to finance the fight against extreme poverty. Together with the new Sustainable Development Goals (SDGs) that will be adopted in September, it makes 2015 a once-in-a-generation opportunity to transform the lives of hundreds of millions of the world’s poorest. The EU and its Member States, as the biggest development aid donor in the world, play a crucial role and, by adopting a strong position, they can inspire other States to do the same.

ONE is urging Development Ministers to recommit to collectively spend 0.7% of the EU’s Gross National Income on Official Development Assistance (ODA). They should also commit to a new target of directing at least half of development aid to the Least Developed Countries, and to passing EU-wide transparency measures to help curb illicit financial flows.

Tamira Gunzburg, ONE Brussels Director, explains: “With a history of longstanding commitments to help the world’s poorest, the EU cannot miss this opportunity to lead by example and demonstrate its determination to end extreme poverty by 2030. Tomorrow’s meeting is the perfect occasion to lock in a recommitment to providing 0.7% of the EU’s GNI to development aid. This will boost the international negotiations so that other sources of funding can be unlocked as well.”

Notes for editors

• Financing the fight against extreme poverty is about much more than development assistance. At least $1 trillion is estimated to be lost to developing countries every year through corruption, tax evasion and money laundering. To ensure that revenues generated in developing countries can indeed be used for development, it is crucial to strengthen developing countries’ ability to mobilise domestic resources for development and curb illicit financial flows.