India has cautioned the international financial organisations and bilateral donors not to “disappoint” poor countries by failing to fulfill the US$30 billion target for Aid for Trade (A4T) by 2010, suggesting that their track record to provide trade-related assistance to poor countries in Asia and Africa is far from satisfaction.
“We hope the actual figures do not disappoint us,” Indian trade envoy Ambassador Ujal Singh Bhatia told the World Trade Organisation General Council.
Glib promises
In the current grim context of aid, where rich countries have failed to live up to their promises, it is important that credibility of A4T is not undermined by glib promises, he argued.
India, he said, committed to provide US$750 million to Afghanistan and billions of dollars to all other poor countries in Asia and Africa. Over the last three days, World Trade Organisation hosted the first Global Aid for Trade Review in which heads of World Bank, International Monetary Fund, Organisation for Economic Cooperation & Development and other regional financial bodies promised poor countries of aid to improve their trade-related physical and customs infrastructure.
The A4T was conceived as part of WTO’s sixth minsiterial meeting in Hong Kong to help poor countries with soft aid for trade-related projects.
