Ottawa’s $1.5-billion foreign-aid initiative has spent only $120,000 so far

Morning Update: Ottawa’s $1.5-billion foreign-aid initiative has spent only $120,000 so far

Globe and Mail – https://www.theglobeandmail.com/amp/canada/article-morning-update-ottawas-15-billion-foreign-aid-initiative-has-spent/

Apple News – https://apple.news/Aezys27BMSD-ART-OUIwovw

Good morning,

Nearly three years after announcing $1.5-billion for two foreign-aid financing programs, the Liberal government has, so far, only spent $120,000 of that money.

Initially touted as groundbreaking initiatives to bring new funding to developing countries, the department of Global Affairs says the programs have been stalled by “operational constraints” and other factors, including the COVID-19 pandemic.

Initially touted as groundbreaking initiatives to bring new funding to developing countries, the department of Global Affairs says the programs have been stalled by “operational constraints” and other factors, including the COVID-19 pandemic.

Analysts, on the other hand, say the financing programs were obstructed by poor strategies, inadequate preparations and a lack of bureaucratic appetite for risk.

“Two years without disbursing any funds is a gross underperformance,” said Boris Martin, chief executive officer of the Canadian branch of the non-profit aid group Engineers Without Borders. “It is a shame that while support is most dearly needed, these programs aren’t ready to deploy anything.”

OMAIR QUADRI