Rich nations “must double aid budget to tackle poverty”

AS MANY as 45 million children will die needlessly over the next decade because rich nations are not giving enough money to tackle poverty, a new report claims.

The aid budgets of rich countries are half what they were in 1960, while poorer nations are paying back a "staggering" $100 million (€74m) a day in debt repayments, according to Oxfam.

The aid agency has urged rich countries like Ireland to double aid to poor countries, some of which will spend twice as much this year on repaying debts as on educating their children.