By Barry Malone
ADDIS ABABA (Reuters) - Britain will stand by its aid pledges to Africa despite the global financial crisis, the country's development minister said Friday.
"We stand by the commitments we have made both internationally and domestically," said Douglas Alexander, Secretary of State for International Development.
"That position has not changed in light of recent economic circumstances."
Speaking to reporters in the Ethiopian capital Addis Ababa after a two-day visit to the Horn of Africa nation, which has been suffering a hunger crisis for months, Alexander said no country could insulate itself from the effects of the crisis.
Financial experts say that while Africa is relatively protected from the global credit turmoil as African banks are less exposed to credit risk, there could be a reduction of aid flows as well as foreign direct investment and remittances.
Parts of the continent have been hit by drought and Africa has also felt the effects of high food and fuel prices.
The Ethiopian government said this week that 6.4 million of its people are in need of emergency food and appealed for a further $265 million (153 billion pounds) from donors.
"Whether food, fuel or finance is the issue, at a very fundamental level we are in it together," Alexander said. "That is why I think it's important that we continue to meet our aid commitments."
Through its Department for International Development, Britain spent an estimated 1.05 billion pounds in 2006/07 on bilateral and regional programs to reduce poverty in Africa. In 2007/08, it expects to have spent 1.25 billion pounds.
(Editing by Daniel Wallis)
