The Organisation for Economic Co-operation and Development last week released its preliminary report on 2023 official development assistance — or ODA — spending.
It shows that total spending from members of the Development Assistance Committee totaled $223.7 billion, accounting for 0.37% of their combined gross national income, marking the fifth consecutive year that ODA has been at a record-high percentage, although it is still only around half the target of 0.7% ODA-to-GNI ratio target. DAC member spending rose by 1.8% in real terms compared to 2022.
The rise can be attributed to the increase in ODA assistance to Ukraine, humanitarian aid, and overall contributions to multilateral organizations.