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Official Development Assistance at its highest level ever in 2008

OECD says that, in 2008, ODA rose by 10.2% in real terms, reaching the highest amount ever recorded. This is an important step to reach the Millenium Development Goals of the UN and may also be a good starting point to face the current global financial crisis.

In 2008 the total net official development assistance (ODA) from members of the OECD’s Development Assistance Committee (DAC) reached its highest level ever recorded, coming up to USD 119.8 billion (a rise by 10.2% in real terms). Figures on bilateral development projects and programmes show a positive trend in recent years, however the most significant data is focusing on 2008 (12.5% in real terms compared to 2007).

During last year the largest volume increases came from the United States, the United Kingdom, Spain, Germany, Japan and Canada, among which the largest donors by volume were the United States, Germany, the United Kingdom, France and Japan. In addition, significant increases were recorded in Australia, Belgium, Greece, New Zealand and Portugal.

The OECD report published end of March 2009 gives detailled figures on the main donors as well as the detination countries. Worth noting is that, following the aid commitments at the Gleneagles G8 and UN Millennium in 2005, some further increases in aid can be expected on the merge of 11% in programmed aid between 2008 and 2010.

The 2008 ODA data suggest that with some further effort, most donors are within reach of their 2010 targets. However, in a few countries large shortfalls are likely (i.e. Austria, Italy and Greece) and only a special crisis-related effort could ensure the reaching of the 2010 target aid goals.

The current global crisis is having a serious impact on low income countries, particularly for what it may concern the rises in food and oil prices that hit countries in less strong fiscal position. While the full effect and duration of the crisis are still to be seen, the increasing of the DOA linked to the 2010 target aid goals has to be seen as an important step to avoid additional burden on developing countries already faced with restricted sources of income and increased poverty.

For more information, check the documents on ODA on the OECD website.

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Official Development Assistance at its highest level ever in 2008

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