The EU and its 27 Member States have significantly increased their Official Development Assistance (ODA) for partner countries to €66.8 billion in 2020. This is a 15% increase in nominal terms and equivalent to 0.50% of collective Gross National Income (GNI), up from 0.41% in 2019, according to preliminary figures published today by the Organisation for Economic Co-operation and Development's Development Assistance Committee (OECD-DAC). The EU thereby confirms its position as the world’s leading donor, providing 46% of global assistance from the EU and other DAC donors, and has taken a major leap forward towards meeting the commitment to provide at least 0.7% of collective GNI as ODA by 2030.
In response to the Coronavirus pandemic, the EU, its Member States, and the European financial institutions, together with the European Investment Bank and the European Bank for Reconstruction and Development, have combined their financial resources as Team Europe, mobilising over €40 billion in support to partner countries in 2020. 65% of this amount was already disbursed in 2020 in support of the immediate humanitarian needs; health, water, sanitation and nutrition systems, as well as tackling the social and economic consequences of the pandemic. The unprecedented nature of the COVID-19 crisis has put a huge stress on public finances and debt sustainability of many developing countries, affecting their ability to achieve the Sustainable Development Goals. This is why, in May 2020, President von der Leyen called for a Global Recovery Initiative, linking debt relief and investment to the SDGs to promote a green, digital, just and resilient recovery. The Global Recovery Initiative is about shifting to policy choices supporting green and digital transitions, social inclusiveness and human development while enhancing debt sustainability in partner countries.