The Paris-based Organisation for Economic Cooperation and Development (OECD) reported on Wednesday that worldwide help fell by 7.1% in 2024 in comparison with the earlier 12 months, marking the primary drop after 5 consecutive years of development.
The OECD’s Development Assistance Committee (DAC) members supplied $212.1 billion in worldwide help in 2024, accounting for 0.33% of their mixed Gross National Income (GNI).
“The fall in official development assistance (ODA) was due to a reduction in contributions to international organisations, as well as a decrease in aid for Ukraine, lower levels of humanitarian aid, and reduced spending on hosting refugees in donor countries,” an announcement from the OECD reads.
Net help to Ukraine fell by 16.7% from 2023, totaling $15.5 billion, or 7.4% of whole help. Humanitarian help dropped by an estimated 9.6% in 2024, amounting to $24.2 billion.
“ODA used to cover refugee costs within donor countries fell by 17.3% in 2024 compared to 2023 and amounted to USD 27.8 billion, representing 13.1% of DAC member countries’ total ODA, down from 14.6% in 2023. For five countries, in-donor refugee costs still represented more than a quarter of their ODA in 2024,” the assertion mentioned.
The US continued to be the most important donor with $63.3 billion, accounting for 30% of whole help in 2024, adopted by Germany with $32.4 billion, the UK with $18.0 billion, Japan with $16.8 billion, and France with $15.4 billion.
“It is regrettable that ODA decreased in 2024 after five years of continuous growth. It’s even more concerning that some of the major donors have signalled further, and quite significant, decreases over the coming years,” OECD DAC Chair Carsten Staur mentioned.
“In this situation, it is paramount that ODA is invested where it is most needed, especially in the poorest and most fragile countries. Going forward, poverty eradication, the just green transition, and governance should remain at the core, and we must also make ODA work harder in mobilising other sources of finance. Doubling down on aid effectiveness, together with partner countries, will be the key to achieving this,” he added.
Source: www.anews.com.tr