ADVANTAGES

Separately, the UN Millennium Summit (2000) adopted ambitious social targets to be achieved by 2015, called the Millennium Development Goals (MDGs,, ), including halving the ratio of people in absolute poverty between 1990 and 2015. To attain these goals, the World Bank's PRSP is going to be used (hence the linkage between World Bank and UN policies). The World Bank economists estimated that achieving MDGs would require an additional $40-60 billion dollars of ODA per year (i.e., doubling the current level of global ODA). The EU has promised to increase its ODA to 0.39% of GNP (amounting to about $7 billion) while the US has declared to add $5 billion annually in the next three years for the benefit of poor countries with "good practice." But Japan has cut its ODA budget drastically due to fiscal crisis in recent years, and there is so far no sign that this trend will end.

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