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Published by source: 15 March 2018
Official development assistance (ODA) consists of grants or loans that are undertaken by the official sector with the objective of promoting economic development and welfare in recipient countries. Disbursements record the actual international transfer of financial resources, or of goods or services valued at the cost of the donor. ODA is here presented as a share of Gross National Income (GNI). GNI at market prices equals Gross Domestic Product (GDP) minus primary income payable by resident units to non-resident units, plus primary income receivable by resident units from the rest of the world. The EU made a commitment to collectively reach official development assistance of 0.7% of GNI by 2015 and of 0.56% of GNI as an intermediate target by 2010. The list of countries and territories eligible to receive ODA is determined by the OECD’s Development Assistance Committee (DAC).