Seven corporations rake in $1.81 billion dollars from foreign aid program

Source: Daily Telegraph

JUST seven corporations have raked in a staggering $1.81 billion in taxpayer-funded contracts under the booming foreign aid program.

But the lack of scrutiny of their achievements and the huge sums being provided to agencies like the World Bank, which receives $450 million last year, is under challenge.

Aid experts and the opposition are demanding greater accountability of the money spent to tackle global poverty.

GRM International, which recently hooked up with the global Futures Group, had $500 million in AusAID contracts listed during the past 18 months, including $92 million to encourage Africans to study in Australia.

Cardno, which lists former defence chief Peter Cosgrove on its board of directors and which reported a record $59 million profit last year, holds $442 million in contracts, including two Indonesian deals worth nearly $100 million.

Read More: Seven corporations rake in $1.81 billion dollars from foreign aid program

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