South Korea lagged behind major rich countries in the volume of official development assistance given to developing countries to help their social and economic infrastructure. But the nation topped OECD donators in its ODA growth, data showed Thursday.
According to a report released by the Organization for Economic Cooperation and Development, Korea had the highest ODA increase rate over the past five years among its member countries. Korea posted an average 17. 8 percent increase while the OECD members’ average recorded 2.3 percent.
Last year, Korea’s ODA amount reached $1.85 billion, a 5.4 percent increase from a year earlier. The contribution put Korea at 16th in the ranking of the largest donators among the 28-member OECD Development Assistance Committee.
Korea had provided the most aid to Asian countries, followed by Africa, South America and Middle Eastern countries.
Seoul officials said other OECD countries decreased their ODA due to economic recessions while Korea maintained its stance on increasing its ODA.