Millennium Development Goal 8: More and better aid, fairer trade, and debt relief
Trade
For developing countries to prosper, they need to be able to trade internationally under an open and fair system. Those countries also need more aid from richer countries to reduce poverty, as well as help with their debts.
Trade is not currently working for the poor. The world's 49 poorest countries together accounted for 0.4% of world trade in 1999 - half of the level of 1979. One of the biggest problems poorer countries face is barriers to markets in richer countries. The World Bank estimates that eliminating all barriers to trade in goods would generate US$350 billion for low and middle income countries. Find out why trade really matters in the fight against world poverty.
The targets in the Millennium Development Goal on a global partnership for development include a fairer trading and financial system.
Find out more about the work we are doing on trade.
Unfortunately, moves to reform global trading rules have been slow. However, we're committed to doing our best to get them back on track. Find out more about the Doha Development Agenda.
In the Great Lakes area of Africa, our Trading for Peace programme is helping to turn the natural resources that have financed conflict in the region into a source of peace and poverty reduction. Visit our Trading for Peace pages to learn more.
Better aid
The big increases in aid that we saw in 2005 will only be helpful
if they are spent properly. Development practitioners and partner governments alike
agree that aid is more effective if it is: spent in line with the country's own
budget priorities; given in a coordinated way; focused on the poorest; predictable;
untied to the provision of goods or services; delivered through effective
institutions; and focused on results, not inputs.
There is also consensus that aid works better if donors attach minimal
conditions to their aid, strengthen accountability between governments and their
citizens and ensure that policies are joined up behind the individual countries
poverty reduction strategies.
More aid
We are also increasing our aid to poorer countries. UK aid was increased in 2002 by £1.5 billion to reach £4.6 billion a year by 2005-06 - that's an average increase of more than 8% a year in real terms.
Non-governmental organisations (NGOs) focused on these issues through the
Make
Poverty History campaign, which calls for trade justice, more aid and debt
relief.
Debt relief
One of the areas we have been most active in is encouraging
wealthy countries to reduce the debt burden of the poorest economies. SeeMaking
Globalisation a Force for Good for more details about what the UK Government
is doing to make this a reality.
We have also helped to coordinate international efforts that have led to debt relief worth more than $60 billion. Find out more about debt relief.
Report on the UK's contributions to achieving the Millennium Development Goals.
In preparation for the review of the Millennium Declaration in
2005, European Union (EU) member states compiled a joint report showing the EU's contributions to achieving the MDGs and priorities for further action. Each
member state first had to produce a national report setting out its own
contributions. Read the UK's
report
(962
kb). This was produced by DFID in collaboration with the Treasury,
the Department for Trade and Industry (DTI), the Foreign and Commonwealth Office
(FCO), and the Department for
Environment, Food, and Rural Affairs (DEFRA).
Last updated: 16 October 2008
