"We renew our commitment to secure substantial flows of official aid and to improve the quality of this aid. The whole international community should be mobilized in this effort and new donors should assume growing responsibility, so that the burden is more equally shared."
In fiscal 1997-98 the Overseas Development budget is #2 370 billion pounds up from #2 290 billion pounds in 1996-97. The budget is expected to increase again in fiscal 1998-99 to #2 420 billion pounds. Excluding fiscal 1996-97 the Overseas Development budget has increased every year since 90-91.
The UK carries out many bilateral projects with nations around the world. India at a #100 million pounds is the largest recipient of British ODA. The UK has also offered to fund projects such as Easter African Cooperation Secretariat to assist in fostering greater ties among the nations of that region.
The UK encourages greater cooperation within regions, the adoption of stable common interstate relations as a method of encouraging foreign investment and high levels of trade and commerce in and among states. The UK views aid and trade as inextricably linked. Bilateral aid is a method by which the pump may be primed but it is full integration of those nations into the world trading system which will encourage peaceful, stable relations and development in poor nations. Trade and direct business investment is the best form of aid. Thus improved trading and investment levels will be pointed to as an improvement in quality of aid and as a new source of aid funds as outlined by the Lyon commitment.
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