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January 06, 2016

OECD Aid Hits New High, but Poor Countries Get Lesser Share

The Organization for Economic Co-operation and Development doled out a record $137.2 billion in 2014, but for the second straight year the proportion of aid going to poorer countries declined, the Thomson Reuters Foundation writes. The share of social, economic, and governance assistance going to the least-developed countries dropped by 9.3 percent to $43.7 billion, less than a third of the total and the lowest proportion since 2006.

The Paris-based donor group of developed nations attributed the 2014 drop in poorer states' share in part to lower levels of debt relief for Myanmar. Still, Yasmin Ahmad, manager of organizations's data-collection unit, called the decline "a worrisome trend." Aid and antipoverty groups criticized the shift in funding to better-off countries. "This news must act as a wake-up call to world leaders who should urgently commit 50 percent of their aid to the world's least developed countries," said Adrian Lovett, Europe executive director for the ONE Campaign.