The UAE has been named as the world's largest international donor of official development assistance for the second year in a row.
The Development Assistance Committee of the Organisation for Economic Co-operation and Development (OECD) released its final report showing the UAE donated a total of AED18.36 billion ($4.99 billion) of developmental aid in 2014, accounting for 1.26 percent of gross national income.
Commenting on this achievement, Sheikha Lubna bint Khalid Al Qasimi, Minister of International Cooperation and Development, and head of the UAE Committee for Coordination of Humanitarian Foreign Aid, said that occupying this position for the second year in a row reaffirmed the UAE's commitment to its humanitarian mission.
She also said it enhances the UAE's position as a humanitarian hub and a source of relief and aid to all friendly nations in the world.
According to the final results published by the Committee, Sweden came second with its development aid accounting for 1.09 percent of its national income, followed by the Luxembourg with 1.06 percent, with Norway in fourth place with 1 percent.
Last year, Secretary-General Ban Ki-moon appointed a high-level United Nations Panel to address the yawning gap between resources and financing for the world’s ever-pressing humanitarian efforts.
He observed that over the last decade, the demand for humanitarian aid had risen "dramatically" with the number of people requiring critical relief more than doubling since 2004 to over 100 million today and current funding requirements for 2015, according to the UN, standing at $19.1 billion, up from $3.4 billion in 2004.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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