Monday December 17, 2018
THE FEDERAL GOVERNMENT PUTS MONEY BEHIND PACIFIC INFRASTRUCTURE, BUT IT’S NOT ENOUGH
The Australian Government confirmed in its 2018 Mid Year Economic and Fiscal Outlook (MYEFO) today that they will establish the Australian Infrastructure Financing Facility for the Pacific through a $1.5 billion loan facility, with a $500 million grant element.
“This small increase in aid does not fully address the cuts we have seen to the aid program in recent budgets,” said RESULTS Australia CEO, Amelia Christie. “It appears the Government is leaving any other changes to the aid program to the Budget next April, where we hope to see a more substantial positive announcement. We are concerned that this Facility will be partially financed from re-allocations of current aid spending, which would be a substantial loss to the current good work being done to alleviate poverty.”
“The MYEFO announcement highlighted that Australia is on track for a $4.1 billion surplus in 2019/20. Surely we can now see a reversal of the cuts to Australia’s overseas aid program and some meaningful increases to address poverty within our region and beyond.
“It is now more important than ever for Australia to take its place in the world as a good global citizen and pledge an appropriate amount to international development assistance, especially when Australia’s aid program is at 0.23 percent of Gross National Income (GNI), while the global target is three times that at 0.7 percent.
“RESULTS Australia is calling on Prime Minister Scott Morrison and Treasurer John Frydenberg to restore our international development assistance and commit to increase aid of 10 per cent per year, as a minimal step towards 0.7 per cent of GNI by 2030, so we can address humanitarian catastrophes, ensuring education is available to all; and assist in the eradication of infectious diseases.”
For more information and to arrange an interview, please call:
CEO RESULTS Australia
Tel: 0490 391 278