Latest news

How Monaco joins the International Fight against Poverty

Monaco’s international contribution to the fight against poverty was recently detailed in a publication by the IMSEE. Over the 2018-2020 period covered by the study, around 150 projects per year were funded with a total of 90 partners. With 2020 making the fight against COVID-19 a priority for many countries, Monaco was able to mobilize during the global health crises through large and increased contributions to emergency aid.

Monaco became the 183rd member of the United Nations in 1993 and has since participated in the Millennium Goals (2000s) and the Sustainable Development Goals (SDGs) in 2015 to help fight against poverty.

Supporting Countries in debt, especially during COVID

From 2018 to 2020, the Prince’s Government mobilized €58.3 million in Official Development Assistance (ODA); a public policy which supports developing countries with grants in order to prevent them from accumulating high debts. In one decade, Monaco’s ODA contribution doubled with an increase of more than 11 million euros between 2011 and 2020, at an average increase of around 8.5% per year.

In 2020, as the pandemic emerged, Monaco’s ODA contribution reached its highest level at more than 22 million euros. This represents around €500 per year and per inhabitant. Through this policy, Monegasque cooperation has provided concrete assistance to more than 2.4 million people around the world.

Aiding 11 countries in Africa

Monaco’s Strategic Cooperation Plan contributes to international projects, including support for vulnerable and street children, job creation, support for child nutrition, the fight against pandemics and the fight against sickle cell anemia. The budget of the Strategic Plan 2018-2020 increased by more than 50% compared to the previous three-year plan (2015-2017). The Strategic Cooperation Plan prioritizes three areas in Africa, or 11 countries.

Monaco contributed €2.9 million in 2020 for international fight against COVID-19

On 5 July 1950, Monaco signed the Geneva Conventions of 1949 to respond to various crises across the world. Over the 2018-2020 period, Monaco’s emergency aid response represented 5.6 million euros allocated to 96 crises. For the year 2020 alone, emergency humanitarian aid represents more than 3 million euros, of which 2.9 million euros (95.5% of the total amount) were devoted to the fight against the pandemic for 82 partners. This amount includes the Principality’s response to the European Commission’s appeal concerning the coronavirus for a financial commitment of one million euros in favour of the GAVI Alliance (COVAX mechanism) and the World Health Organization (WHO).

In addition, the year 2020 was marked by storm Alex. As a result, exceptional emergency aid was released by the Prince’s Government, with a budget of 4 million euros to support neighbouring regions heavily impacted by the disaster.

Show More
Back to top button