(MENAFN) Initial figures by a global economic body showed that foreign support from official donors stood at USD161.2 billion last year, reaching a record high increased by expenditure mobilized for assistnace amidst the continuing COVID-19 pandemic.
The Organization for Economic Co-operation and Development (OECD) stated in a declaration on Tuesday: "total ODA [official development assistance] in 2020 rose by 3.5% in real terms compared to 2019, reaching its highest level ever recorded."
It said: "the 2020 ODA total is equivalent to 0.32% of Development Assistance Committee (DAC) donors' combined gross national income, up from 0.30% in 2019 but below a target of 0.7% ODA to Gross National Income (GNI)."
Foreign support climbed in a year that witnessed the coronavirus pandemic disrupting all aspects of nationwide economies, leading to local resources coming under augmented pressure.
MENAFN15042021000045011361ID1101919775
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.