The recently published 2019 annual report on financing for development by Concord, a European NGO confederation for relief and development, reveals that Official Development Assistance (ODA) from EU institutions fell to €13.6 billion (US$15.1 billion) in 2018 from €15.9 billion (USD $17.6 billion) in 2016. While the EU institutions and its member states remained the world's largest donor in 2018 by contributing €71.9 billion in ODA, this amount only represents 0.47% of the EU's combined Gross National Income (GNI) (far from the 0.7% of GNI to ODA target)
The report calls for the EU institutions to use a more cautious approach on the use of blended finance and highlights the importance of programming the EU’s 2021-2027 Multiannual Financial Framework (MFF) to help achieve the 2030 Agenda for Sustainable Development. The report recommends that the EU should undertake the following actions:
- increase ODA in the 2021-2027 MFF to meet the 0.7% of GNI to ODA target;
- translate commitments in the European Consensus on Development into concrete actions with responsible actors identified;
- allocate funding through programming in a way that ensures no one is left behind by prioritizing the poorest, most marginalized, and hardest-to-reach people;
- ensure its private sector engagement is people-centred and use ODA for blending only where there is evidence demonstrating impact.