Worldwide development aid topped USD 131.6 billion (ISK 16,400 billion) last year—which is a 6.9 percent increase on the year before. That figure includes a near-doubling of funding towards helping refugees, up to USD 12 billion (ISK 1,500 billion).
The figures were released this week by the OECD’s Development Assistance Committee (DAC), of which Iceland is a member. They show that Iceland’s contribution to development aid is now below the OECD average, Vísir reports.
According to the figures, official development aid from the 28 DAC countries averaged 0.3 percent of GDP—which is a level unchanged since the year before. Iceland, however, contributed 0.24 percent of its GDP to development in 2015, putting it below the OECD average.
Assistance to the world’s poorest nations grew by four percent between years to 2015, and contributions in 22 of 28 DAC nations increased. The biggest increase in development funding came from Greece, Sweden and Germany. The biggest cut to funding came from Portugal and Australia.
Only six of the 28 countries achieved the United Nations target of putting 0.7 percent of GDP aside for international development. They were: Denmark, Luxembourg, the Netherlands, Norway, Sweden and the United Kingdom.