Forty-five million children are set to die by 2015 if countries like United States and Britain don’t meet their aid quotas, reports international agency of Oxfam.
Even though countries like those in G7 are wealthier than they have ever been before, they are giving far less in developmental assistance than what they did in 1960. The paltry assistance gives only $50 million dollars in foreign aid, while even less, about 40% is given to underdeveloped countries.
The Oxam agency is looking to G7 countries to cancel all poor nations' debts and double their developmental aid. If G7 does not agree to these terms, MDG (Millennium Development Goals) for reducing poverty will be put out of reach.
The MDG also called for universal primary education, halving hunger, reduce by two thirds mortality rate of children under five and by three quarters maternal mortality rate; and halt spread of HIV/AIDS and occurrence of other deadly diseases, like malaria and tuberculosis.
The G7 agreed in 2000 to reach these goals, however none have increased spending.
The United States is actually ranked dead last with only 0.14 percent of GDP going to foreign aid, which is only 1/10th of what it spent on Iraqi war in 2003. Foreign aid given by United States is only 1/14th spending of its annual defense budget.