Foreign Aid

Shehbaz Sharif vows to end Pak's dependency on foreign aid and IMF bailouts

Prime Minister Shehbaz Sharif has pledged to end Pakistan's dependency on foreign aid and IMF bailouts and surpass neighbouring nations in economic activity, as he outlined a series of bold reforms to reduce the cash-strapped government's expenses and revive the economy. Sharif addressed the nation on Saturday and expressed hope that the next deal with the International Monetary Fund (IMF) for a bailout package would be the last in Pakistan's history. The Pakistan government is currently in talks with the IMF for a loan estimated to be between USD 6 billion to USD 8 billion, as it strives to avert a default in a slow-paced economy. Sharif emphasised that every penny would be spent on the progress of the nation and its people. He expressed commitment to reduce expenses and, within five years, provide education and skills to the youth. Inshallah, this will be the last IMF programme in Pakistan's history. We will stand on our feet and surpass our neighbouring countries in economic ..

Blinken begins China visit as tensions rise over new US foreign aid bill

US Secretary of State Antony Blinken has begun a critical trip to China armed with a strengthened diplomatic hand following Senate approval of a foreign aid package that will provide billions of dollars in assistance to Ukraine, Israel and Taiwan as well as force TikTok's China-based parent company to sell the social media platform - all areas of contention between Washington and Beijing. Blinken arrived in Shanghai on Wednesday just hours after the Senate vote on the long-stalled legislation and shortly before President Joe Biden is expected to sign it into law to demonstrate U.S. resolve in defending its allies and partners. Passage of the bill will add further complications to an already complex relationship that has been strained by disagreements over numerous global and regional disputes. Still, the fact that Blinken is making the trip shortly after a conversation between Biden and Chinese President Xi Jinping, a similar visit to China by Treasury Secretary Janet Yellen and a .

Foreign aid drops sharply as Taliban abuses jeopardise Afghan health system

Human Rights Watch said on Monday that Afghanistan's public health system has been hit hard following a sharp reduction in foreign assistance, coupled with serious Taliban abuses against women and girls, jeopardising the right to healthcare of millions of Afghans. In a new report, the New York-based watchdog said this has left the Afghan population increasingly vulnerable to severe malnutrition and illness among other effects of inadequate medical care. The Taliban takeover of Afghanistan in August 2021 drove millions into poverty and hunger after foreign aid stopped almost overnight. Sanctions against the Taliban rulers, a halt on bank transfers and frozen billions in Afghanistan's currency reserves, have cut off access to global institutions and the outside money that supported the aid-dependent economy before the withdrawal of US and NATO forces. In 2023, the World Food Programme warned that malnutrition rates in Afghanistan were at a record high with half the country suffering

EU reverses earlier announcement that it was suspending aid to Palestinians

The European Union on late Monday reversed an earlier announcement by an EU commissioner that the bloc was immediately suspending aid for Palestinian authorities and instead said it would urgently review such assistance in the wake of the attacks on Israel by Hamas. There will be no suspension of payments at the moment, a terse European Commission statement said late Monday, five hours after EU Commissioner Oliver Varhelyi had said that all payments from the development programme for Palestinians would be immediately suspended. All projects put under review. All new budget proposals postponed until further notice. No immediate explanation for the reversal was given. A full European Commission statement always trumps a statement from an EU commissioner, but the reversal on a 691 million-euro ($730 million) programme capped an embarrassing day at the EU's executive at a time of extreme geopolitical sensitivities.

Afghanistan already has a lot on its plate, but not enough food

Following the August 2021 Taliban takeover, a severe economic crisis gripped Afghanistan, exacerbated by droughts, floods, and earthquakes

Zelenskyy calls for aid of 50 mn LED lightbulbs to cope with energy crisis

In the wake of Russian attacks on Ukraine's fragile energy infrastructure, President Volodymyr Zelensky has called for 50 million LED lightbulbs which would save around one gigawatt of power

US to give $40 mn agricultural aid to Sri Lanka for next cultivation season

The United States on Saturday announced USD 40 million in aid to buy fertilizer and other key agricultural inputs in time for the next cultivation season in crisis-hit Sri Lanka. USAID Administrator Samantha Power, who is visiting Sri Lanka, made the announcement after she met farmer representatives in Ja-Ela outside the capital, Colombo. She said the money will be in addition to the $6 million announced earlier to assist low income farmers. Sri Lanka is facing its worst economic crisis and acute shortages of essentials like food, fuel and medicines because of a lack of foreign currency to pay for the imports. Agricultural yields dropped by more than half for the past two cultivation seasons because authorities had banned the imports of chemical fertilizers ostensibly to promote organic farming. The farmers that I just met with described enormous challenges that the economic crisis has placed on them and their families and the whole community. They described phenomena that were ...

US Congress mulls American aid to India on improvement in human rights

Members of the US Congress could consider whether or not to condition future American aid to India on "improvements" in human rights and civil liberties in the country, an independent and bipartisan congressional research body has said. The Biden Administration has requested USD 117 million in foreign assistance to India for FY 2023. Congress could consider whether or not to condition some or all of such aid on improvements in human rights and civil liberties in India, Congressional Research Service said in its In Focus report titled India: Human Rights Assessment. The USD 117 million aid to India through USAID is a proposal by the Biden Administration. Notably, India has not asked for any such American assistance. Also, this amount is insignificant considering the India-US trade and business ties. During COVID-19 pandemic, the US corporate sector alone donated equipment and aid worth USD 500 million in a matter of weeks. India has repeatedly rejected criticism by foreign government

Over $20bn of international aid allocated for Ukraine: Central bank chief

More than $20 billion of international aid has been allocated for Ukraine amid its conflict with Russia, said Kyrylo Shevchenko, Governor of the National Bank of Ukraine.

UN agencies appeal for $4.4 bn to assist 29.1 mn in Africa in 2022

The UN Office for the Coordination of Humanitarian Affairs (UNOCHA) on Wednesday said between 12 and 14 million people are waking each day to face high levels of acute food insecurity

UK to expand development finance investment in Asia, Africa, Caribbean

Foreign Office says the move was part of a strategy to deepen economic, security and development ties globally.

Palestine faces financial crisis amid decline in foreign aid, tax dispute

Palestine is facing a financial crisis amid a decline in foreign aid and a growing tax dispute with Israel, according to an informed source

UK lawmakers seek to reverse government's contentious foreign aid cut

United Nations agencies and other international organisations say the reduction will hurt programs that help some of the world's poorest people.

India receives 17,755 oxygen concentrators in foreign aid: Health ministry

Of these 15,567 oxygen concentrators, about 12,530 units have been delivered to states, and another 3,037 have been dispatched

Australia suspends defence cooperation with Myanmar over military coup

Australia has suspended its defence cooperation with Myanmar and is redirecting humanitarian aid because of the military takeover of the government and ongoing detention of an Australian citizen. Foreign Minister Marise Payne said on Monday that Australian diplomats only had access to economic policy adviser Sean Turnell twice since he was detained in early February. She described the access as very limited consular support. We continue to absolutely call for the release of Professor Sean Turnell, Payne told Australian Broadcasting Corp. Australia announced late Sunday it had suspended a defense training program with Myanmar worth about 1.5 million Australian dollars ($1.2 million) over five years. The program had been restricted to non-combat areas such as English-language training. Australian humanitarian aid will be directed away from Myanmar government and government-related entities. Instead it will focus on the immediate humanitarian needs of the most vulnerable and poor in

Rethinking foreign aid to India

Temporary migration programmes, an alternate form of foreign aid, have proven remarkably effective at poverty reduction, and cost the taxpayer of the donor country nothing