New Delhi, May 19: The United Kingdom has announced a reduction in foreign aid, taking into account its financial situation. Pakistan is among the countries that will be most affected by this decision, according to a report.
The Borgen Project’s report indicates that the UK government plans to decrease its development aid from 0.5% of Gross National Income (GNI) to 0.3% by 2027. This change will result in a cut of over $6 billion in foreign assistance.
The report highlights that Pakistan and Mozambique will face the most significant impacts, while countries like Yemen, Somalia, and Afghanistan will also experience a reduction in direct grants.
UK Foreign Secretary Yvette Cooper stated in Parliament that due to global security challenges, particularly the war in Ukraine, the government needs to increase defense spending, necessitating “difficult decisions and compromises.”
Before the COVID-19 pandemic, the UK allocated 0.7% of its GNI to foreign aid, but this figure has been steadily declining in recent years.
The UK government has indicated a shift towards an “investment-based partnership” model to promote private investment and expertise in developing countries.
According to the report, these cuts will impact development programs in several countries, forcing them to rely more on alternative financial sources, especially remittances from expatriates.
In Pakistan, remittances from over 8 million citizens living abroad have surged to nearly $30 billion, partially offsetting the decline in foreign aid.
Conversely, countries like Mozambique, where remittance income is lower, may have to depend more on multilateral agencies like the United Nations, especially following recent floods that displaced millions.
Arpit Soni has had a passion for journalism since the beginning. Now he has turned this hobby into his profession. Arpit, who is a resident of Udaipur, enjoys editing and writing news related to journalism. He has worked as a Senior Content Producer in several important roles at Bhaskar, Patrika, Pratahkal, Punjab Kesari, and Times. Arpit completed his schooling in Udaipur and Jaipur. He has been working in the media industry for more than 10 years, and his journey is still continuing. ✍️📚
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