Statement by Minister of State Lenihan on announcement of a new date for reaching the UN target of 0.7% of GNP

Agreement on UN target “truly historic” - Conor Lenihan T.D.

€8 billion in overseas aid up to 2012

I am delighted with today's announcement.

Historic decision
It is genuinely historic and puts Ireland in the front rank of donors, in terms of the quality of our programme and quantity of money we spend on overseas development aid (ODA).

We have equally decided on a clear pathway towards achieving the 0.7% figure.

First Stage
In the first stage, our ODA will reach 0.5% of GNP in 2007 – three years ahead of the EU target of 2010. 

Already in the estimates is a provision for an extra €65 million in each of the years 2006 and 2007.  Today we are announcing a further €48 million and €50 million, respectively, in those years, to reach 0.5% of GNP.

This year we are spending €545 million on overseas aid.

In 2006, we will spend €658 million and, in 2007, we will spend €773 million.

Second Stage
In 2010, we will reach 0.6% of GNP. On present anticipated growth rates, ODA spending is projected to be of the order of €1.2 billion in that year.

Reaching 0.7%
As a final stage, we will reach 0.7% in 2012.

Again based on anticipated growth rates, this is projected to result in spending on ODA of the order of €1.5 billion in the year 2012.

In real terms, today's announcement means that between 2005 and 2012 Ireland could spend as much as €8 billion on overseas aid.

This makes us a leader in global terms in the fight against poverty.

ENDS ++++
14th  September 2005
Press Section