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ROK Provides US$2.52 billion of ODA in 2019, 15th Largest among DAC Member States

  • Date : 2020-04-18 11:13:56
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1. At 16:00, April 16, Paris time (23:00, Korea Standard Time), the Organisation for Economic Co-operation and Development (OECD) announced its preliminary statistics* on official development assistance (ODA) in the year 2019 from the 29 member states of the OECD’s Development Assistance Committee (DAC).
* Final statistics on ODA in 2019 will be released in December this year.

o According to the OECD, the combined amount of ODA from the DAC member states stood at $152.8 billion, and the ODA/GNI ratio, the indicator of the level of aid relative to the size of the economy, was 0.30% on average.

2. The ROK’s ODA in 2019, the 15th largest* among the DAC member states (15th largest in 2018), stood at $2.52 billion, up by $160 million from the year 2018, due to an increase in bilateral assistance.

* Rank: the United States (1st), the Federal Republic of Germany (2nd), the Kingdom of Denmark (14th), the Republic of Korea (15th), the Kingdom of Belgium (16th), etc.

o The ROK’s ODA/GNI ratio was 0.15%, a 0.01% point increase from the previous year (0.14%).
3. Since the ROK’s accession to the OECD DAC in 2010, some DAC member states, including Spain and Greece, have been steadily reducing ODA due to difficult conditions at home and abroad, and as a result, ODA from all DAC member states has increased at an average annual rate of 2.4%.

o The average annual increase rate of the ROK’s ODA from 2010 to 2019 is 11.9%*, the highest among the member states. The ROK’s ODA more than doubled from 2010 ($1.17 billion) to 2019 ($2.52 billion).

* Average annual increase rate of ODA during the period: the ROK (11.9%), Hungary (10.5%), Germany (7.0%), etc.