Falling pound costs Christian Aid £15m

Finance | 29 May 2009

The collapse in the value of the pound on international money markets has cost Christian Aid around £15m, or 25 per cent of the value of its money, according to its director Daleep Mukarji.

Speaking to promote Christian Aid Week in May, Mukarji said the government was not doing enough to support those charities that work in poorer countries abroad during the current crisis.

He explained: “We pay for offices, staff and partners abroad. Put simply, our purchasing power is about £15m less than it was a year ago.

“This has had a serious impact on our partners and other beneficiaries. We are grateful that the government has not cut the aid budget, but I am sorry they are not funding us to cover some of our costs.

“In the recent Budget the Chancellor announced he was putting money into domestic charities, but international charities seem to have been left out.”

He said the government needed to remember that development agencies build up civil society and accountable governance in parts of the world where the government cannot go.

“It is sad that the government can find money to help out banks and some manufacturers, they can’t find anything for us.”

Mukarji said Christian Aid had been forced to cut funding for a number of international projects and to review its domestic activities, but he added that alternative sources of finance were actively being sought. “We have diversified our income. We are looking at new ways to get funding from governments, trusts, and international bodies,” he said.

Directory: Christian Aid
Who's Who: Daleep Mukarji

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