111. Aiming the aid: Why development funding needs refocusing

The Weekly Tradecast looks at international aid and how more is needed to boost economies and people with Julia Gruebler from the technical team of the UN Global Crisis Response Group. Official Development Assistance (ODA) is more than just cash. The grants, loans and technical assistance from various governments can support societies with access to electricity, clean water, healthcare and education. Along with remittances and foreign direct investment, ODA is one of the most stable kinds of external financing for developing countries, especially in times of crisis. The good news is ODA jumped to record levels in 2022, even during a pandemic. But developing regions actually saw ODA shrink by 2 percent – affecting more than 70 countries and nearly 3 billion people. As conflict, geopolitics and financial pressures reshape priorities, the aid landscape is undergoing huge shifts that could undermine development in many countries. Listen in to UN Trade and Development’s Julia Gruebler for more on aid under pressure and the future of ODA.