In 2008, total net official development assistance (ODA) from OECD Development Assistance Committee (DAC) countries rose by 10.2% in real terms to US$119.8 billion. This is the highest annual aid figure ever recorded, representing 0.3% of members’ combined gross national income.
Sunday, May 17, 2009
Development aid rose to a new record in 2008.
In 2008, total net official development assistance (ODA) from OECD Development Assistance Committee (DAC) countries rose by 10.2% in real terms to US$119.8 billion. This is the highest annual aid figure ever recorded, representing 0.3% of members’ combined gross national income.
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2 comments:
Is this just a percentage increase? Perhaps reflecting the slowing of the economy? And could it be that cuts from the aid agencies simply have not yet set in?
The figure is for total official development assistance, and it is an all time high total. It does not seem to be adjusted for inflation. Perhaps more importantly, the government allocations for 2008 funding were probably largely made in 2007, before the economic crisis became apparent.
Note that even if development assistance remains high, trade is going to be down and remittances -- which are larger in total that development assistance -- are also down.
OECD Secretary-General Angel Gurría and Eckhard Deutscher, the Chair of OECD’s Development Assistance Committee addressed Glenn's concern:
“Let us not repeat the mistakes we made following the recession of the early 1990s when many OECD governments let aid efforts decline, with the consequent impacts on developing countries in such areas as agricultural production, infrastructure, social welfare and political stability”
Read the whole article.
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