Rich nations fall short on Africa aid: Watchdog

The world's richest nations are falling short on pledges to double aid to Africa by 2010 at a time when soaring food prices risk destroying decades of economic progress on the continent, a watchdog said yesterday.

The Africa Progress Panel, set up to monitor commitments made at the Group of Eight (G8) summit in 2005 at Gleneagles in Scotland, said in a report rich nations would be $40 billion shy of their pledges based on current plans.

"Funding shortfalls against the 2010 targets should be addressed immediately - through a special plan to meet the pledge made at Gleneagles," the report said.