Opposition parties have accused the Government of turning its back on the world's poor in failing to honour its commitment to give 0.7 per cent of GNP to overseas development aid by 2007.
They called for legislation to place an obligation on the Government to allocate funding from the Exchequer automatically each year.
Foreign affairs spokesmen from Fine Gael, Labour, Sinn Féin and the Greens held a lunchtime protest outside Leinster House where they held a giant cheque for 0.7 per cent of GNP made payable to the Third World.
This year's budget allocation for development aid will be 0.39 per cent of GNP, which is below the Government's own target for 2002.
Labour Party spokesperson on Foreign Affairs Mr Micheal D. Higgins said the Government has tarnished Ireland's international reputation as a generous donor to the Third World by rowing back on its commitment.
"Now we will be remembered as the country that became too rich to keep its promise to the poorest of the world", said Mr Higgins.
"Every day 3,000 die from malaria. Three out of four are children. 1.5 million per year die from TB. Eight million are infected. Those are just some of the features towards which our commitment was addressed when it was given in September 2000. That commitment is now abandoned," he said.
Today, Dóchas, the Irish Association of Non-Governmental Development Organisation,s welcomed the call by the Opposition parties for legislation to ensure Ireland's commitment overseas aid.
Association director Mr Hans Zomer said: "The Government should now respond and bring forward legislation to ensure we keep our promise to the world's poor."
Yesterday a Fine Gael private members' motion criticised the Government for reneging on its commitment and called for legislation so that the funding was automatically allocated each year.
The motion, which was supported the Opposition, was defeated by 63 votes to 57.