Wednesday, August 21, 2019

Norway bypasses Sweden, regains position as world’s top donor

Norway has bypassed Sweden and was last year the world’s top aid performer. Norwegian aid amounted to 0.95 per cent of GNI, followed by Sweden (0.93 per cent). Denmark is number four and Finland number ten on the prestigious list.

The increase in Norway’s aid level is mainly a result of an aggressive strategy of buying up hydropower plants in emerging markets funded by aid. However, underlying figures indicate that the Norwegian government will have problems fulfilling its promise to raise aid to 1 per cent of GNI by next year.

Development Today is a subscription-based online journal. To subscribe click here.

If you are already a subscriber to Development Today please log in.

Would you like to know more about Development Today? Click here.