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26.01.2015
2015 will be the official European Year for Development. Under the slogan "Our world, our dignity, our future", the year will be dedicated to development cooperation. OeEB will highlight paths to resolving global development issues, too.
The aim of the European Year for Development is to inform the public about development cooperation within the EU. Together, the EU and its member states are the world's largest donor of development assistance.
By financing infrastructure projects and small and medium-sized companies in developing countries, OeEB contributes to improving the living conditions in these countries. "Alongside classical aid, developing the private sector plays an important part in reducing poverty," explain Andrea Hagmann and Michael Wancata, members of OeEB's executive board.
Studies show that for every U.S. dollar of funding provided by international financial institutions, twelve U.S. dollars in financing are made available by private investors. "This creates jobs and increases the tax and foreign exchange revenues in developing countries," say Hagmann and Wancata.