The Concord, a group representing more than 1,600 NGOs in Europe, said that the EU’s aid policies in Africa need to be re-examined.
While several cases have been brought to the forefront, one Swedish firm is coming under direct fire after support from the Swedish government have allowed the venture capital firm to make excessive profits without paying local taxes. According to both the Swedish minister of development co-operation and the firm Swedfund, a positive effect of these investments is that they generate tax revenue that can be used for poverty reduction.
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