Downturn to Cost Billions in Aid to World's Poor

LONDON, Feb. 26, 2009, Reuters — The cost to aid budgets of the world economic downturn is headed for billions of dollars, slashing assistance to the world's poorest people just as it becomes harder for them to make money for themselves.

In the United States, the heads of more than 50 groups in the InterAction coalition, whose 175 members manage a total of $9 billion annually, say they expect donations from individuals, businesses and foundations to fall by about $1 billion this year.