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Sri Lanka party to Paris Declaration on effective use of foreign aid

Sri Lanka become party to yet another international declaration on Wednesday – this time on the effective use of foreign aid.
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Sri Lanka become party to yet another international declaration on Wednesday – this time on the effective use of foreign aid. The Paris Declaration on Aid Effectiveness agrees to take "far reaching and monitorable action" to manage aid.
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"We, Ministers of developed and developing countries responsible for promoting development and Heads of multilateral and bilateral development institutions, meeting in Paris on 2 March 2005, resolve to take far-reaching and monitorable actions to reform the ways we deliver and manage aid as we look ahead to the UN five-year review of the Millennium Declaration and the Millennium Development Goals (MDGs) later this year," says the declaration.

Developing and developed countries agree that while it will take a lot for aid to achieve the Millennium Development Goals, aid effectiveness must also improve significantly at the receiving end, for any improvements.

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"We recognise that while the volumes of aid and other development resources must increase to achieve

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