Development aid at record in 2008

Rich nations donated more development aid than ever before in 2008, according to the Organisation for Economic Co-operation and Development (OECD).

• The amount of official aid rose by 10.2% to $119.8bn, the highest amount so far recorded in dollars, it said.
• The US was the largest donor, with its net aid rising 16.8% to $26bn last year. The UK’s net aid rose 24.1% to $11.8bn, the third-largest amount.
• In total, the aid was more than 0.3% of combined gross national income.
• ‘Dangerous burden’
• The OECD warned countries about using the financial crisis to cut back on aid.
• “The current global financial crisis is having a serious impact on low-income countries,” it said. “Aid cuts at this point in time would place a dangerous additional burden on developing countries already faced.”
• The OECD tallies up the aid from the 22 members of its Development Assistance Committee (DAC), which includes 15 countries in the European Union, Japan, Australia and New Zealand.
• Five countries – Denmark, Luxembourg, the Netherlands, Norway and Sweden – exceeded the United Nations’ target of 0.7% of gross national income in 2008.
• Germany, France and Japan were also among the five biggest donors.
• South Korea’s aid rose 31.5% to $797m in 2008. The country aims to become a member of the DAC next year.