Official aid and developing countries go hand in hand for the development of the world. In 2004, overall official aid to developing countries climbed up by 4.6 percent. A report by the Organization for Economic Cooperation and Development (OECD) confirmed that U.S. still staying on as the largest aid donor in the world.
Development aid is generally given by governmental and economic agencies to support and enhance the socioeconomic conditions of developing countries. Development aid may also come from international organizations such as the World Bank.
In 2004, the OECD reported that official aid between donor and developing countries climbed up to a record mark of $78 billion.
OECD also reported that the amount of Official Development Assistance (ODA) increased by 4.6 percent from 2003 to 2004, following a 4.3 percent increase from 2002 to 2003. In 2004, the Official Development Assistance (ODA) from the US amounted to $19 billion, a 14.1 percent increase from 2003.
Leading Aid donor countries
Countries leading in aid donations include the USA, Japan, France, the UK, and Germany. Member countries of OECD’s Development Assistance Committee (DAC) have shown tremendous performances on expanding bilateral aid to developing countries.
Statistical data regarding aid to developing countries in 2004
The overall contribution to international organizations increased by $3.7 billion USD.
The overall amount of aid to Afghanistan and Iraq increased by $1.5 billion USD.
Technical cooperation grants increased by $1.2 billion USD.
Gross debt relief grants dropped by $2.1 billion USD and net lending dropped by $1.3 billion USD.
In 2004, the aid growth rates from EU countries are as listed:
Austria showed a 22 percent growth rate.
Greece showed 13.1 percent growth.
Luxembourg showed 10.5 percent growth.
Portugal showed 187.5 percent growth.
Spain showed 14.5 percent growth.
the UK showed 8.8 percent growth.
In 2004, the ODA by other DAC members were as follows:
ODA from Australia grew by 2.3 percent.
Canada showed a growth rate of 12.2 percent.
New Zealand showed an 8.2 percent growth rate.
|Meaning of Aid||Federal Aid|
|Financial Aid||Aid to Developing Countries|
|Foreign Aid||Bailout Beneficiaries|
|Legal Aid||Aid Statistics|
|Public Aid||Aid Trade|
Last Updated on : 10th July 2013