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Canada working closely with EU on foreign aid as U.S. pulls back, Sarai says
Canada is pairing targeted aid with private capital as U.S. spending falls, while keeping support for the poorest countries and health programs.
- Secretary of State for International Development Randeep Sarai is overseeing Canada's shift toward private-sector investment in foreign aid, moving away from traditional global health spending as the government seeks to bolster the economy against American tariffs.
- Prime Minister Mark Carney's administration is cutting government spending broadly to mitigate vulnerabilities to President Donald Trump's trade threats and annexation risks. This fiscal tightening drives the aid strategy shift toward 'mutual economic prosperity' in high-growth markets.
- Through a new microloan project in Thailand, Canada is lending roughly $85 million, matched by $280 million from the Asian Development Bank and SMBC. Sarai defended using taxpayer dollars to 'entice' private sector investment as supporting long-term aid growth.
- Co-Operation Canada, a coalition of aid groups, is urging the government to earmark $5.5 billion annually for 'core' development aid abroad. Advocacy director Paul Farran argued that public funds should alleviate poverty, not subsidize ventures the private sector would avoid.
- The House finance committee called on Carney to clarify aid spending in the Nov. 5 budget, noting that 17 per cent of assistance supports refugees inside Canada. MPs demanded transparency to ensure funding reaches the world's 32 least developed nations.
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The Toronto Star+29 Reposted by 29 other sources
Canada working closely with EU on foreign aid as U.S. pulls back, Sarai says
OTTAWA - Canada's deepening ties with Europe could help fill some of the massive gaps left behind as the United States pulls back from foreign aid and embraces a "transactional"
·Toronto, Canada
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Total News Sources31
Leaning Left21Leaning Right0Center8Last UpdatedBias Distribution72% Left
Bias Distribution
- 72% of the sources lean Left
72% Left
L 72%
C 28%
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