- published: 14 Mar 2016
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The Millennium Development Goals (MDGs) are eight international development goals that all 193 United Nations member states and at least 23 international organizations have agreed to achieve by the year 2015. The goals are:
Each of the goals have specific stated targets and dates for achieving those targets. To accelerate progress, the G8 Finance Ministers agreed in June 2005 to provide enough funds to the World Bank, the International Monetary Fund (IMF), and the African Development Bank (ADB) to cancel an additional $40–55 billion debt owed by members of the Heavily Indebted Poor Countries (HIPC) to allow impoverished countries to re-channel the resources saved from the forgiven debt to social programs for improving health and education and for alleviating poverty.
Debate has surrounded adoption of the MDGs, focusing on lack of analysis and justification behind the chosen objectives, the difficulty or lack of measurements for some of the goals, and uneven progress towards reaching the goals, among other criticisms. Although developed countries' aid for achieving the MDGs have been rising over recent years, more than half the aid is towards debt relief owed by poor countries, with remaining aid money going towards natural disaster relief and military aid which does not further development.