Poorer nations to lose €5.5 trillion in funds by 2030

For every €1 received in foreign aid, another €5 leaves a developing country. File Picture: Pexels

Poorer countries could lose out on €5.5 trillion in the next decade because of money laundered through illegal activities like drug-trafficking and complex financial schemes.

For every €1 received in foreign aid, €5 leaves the country receiving it, a report from leading Irish human rights academics said.