Official Development Assistance
Categories: Economics and finance stubs | Development
Official Development Assistance (ODA) is a category of development aid.
The OECD's Development Assistance Committee (DAC) defines ODA as:
flows to developing countries and multilateral institutions provided by official agencies, including state and local governments, or by their executive agencies, each transaction of which meets the following test
- it is administered with the promotion of the economic development and welfare of developing countries as its main objective
- it is concessional in character and contains a grant element of at least 25% (calculated at a rate of discount of 10%).
According to the Final ODA Data for 2004 report from the Organisation for Economic Co-operation and Development (OECD):
- A combined total of $78.568 billion USD, with subsets as follows:
- The G7 countries donated $56.686 billion USD
- The European Union countries combined donated $42.919 billion USD
- The United States donated $18.999 billion USD, the smallest contribution as a percentage of GNI, at 0.16%
- Norway donated $2.200 billion USD, but were the largest contributors as a percentage of GNI at 0.87%
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