Finland Slashes Development Aid

The new centre-right Finnish government has decided to cut development aid by 43%, prompting furious reactions from NGOs and fears other EU countries will follow its example.
The new Finnish government, which took power on 29 May and has former EU commissioner Olli Rehn as minister of economic affairs, has decided to reduce the budget for development cooperation by 43%. The cuts will start this year. No more revenue from emission allowance auctions will be allocated to development cooperation. Another cut worth €300m ($336m) would come in the 2016 budget. The cuts combined would mean a cut of 43% compared to 2014. The funds available for helping the world’s poor were then €870m.