A panel of world leaders mandated to evaluate progress in Africa said Monday the Group of Eight (G8) that is failing to deliver its pledges made to double aid to the poorest continent by 2010 at a time when soaring food prices risk destroying decades of economic progress.
A statement from the Africa Progress Panel, set up to monitor commitments made at the Group of Eight (G8) summit in 2005 at Gleneagles in Scotland, called on the G8 leaders to take immediate steps to get their commitments to Africa back on target.
The Africa Progress Panel 's report, launched by Kofi Annan, Michel Camdessus and Tidjane Thiam, said that the world food crisis "threatens to destroy years, if not decades, of economic progress" as "100 million people are being pushed back into absolute poverty".
"Unless some way can be found to halt and reverse the current trend in food prices there will be a significant increase in hunger, malnutrition, and in infant and child mortality," the report warned.
The panel, chaired by former UN chief Kofi Annan said, rich nations would be 40 billion U.S. dollars shy of their pledges based on current plans.
"Funding shortfalls against the 2010 targets should be addressed immediately -- through a special plan to meet the pledge made at Gleneagles," the report said.
The report, "Africa's Development: Promises and Prospects", said debt relief agreed at the 2005 summit had been significant because poor countries had boosted spending on health and education, over and above the amount of relief.
But unless rising food prices were halted and reversed, there would be a significant increase in hunger, malnutrition, and infant and child mortality in Africa.
The Africa Progress Panel's report also warns that, despite progress on debt relief and significant increases in assistance by individual countries, "the G8's commitment to double assistance to Africa by 2010 is not likely to be fulfilled".
The report identifies a shortfall of 40 billion dollars in aid that needs to be filled if the G8 is to meet the targets set at Gleneagles.
In the report, which assesses the state of the continent in 2008, the Panel members highlighted six policy areas requiring immediate attention at the forthcoming G8 Summit in Japan.
"The food crisis is a major setback which is creating a major humanitarian emergency. In the immediate term, the supply of food to the world's most vulnerable citizens must be increased by raising the level of financial assistance," it said.
The report was launched ahead of the G8 meeting next month in Japan.
Source: Xinhua
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