In an event to present Italy's peer review of the Organisation for Economic Co-operation and Development's (OECD) Development Assistance Committee (DAC), Italian Vice-Minister for Foreign Affairs and International Cooperation, Emanuela Del Re, announced an increase of official development assistance (ODA) for 2021 by €600 million (US$706 million).
In the first draft of the budget approved by the government, Del Re announced that the 2021 allocation to ODA would be €5.3 billion (US$6.2 billion). In 2020, it was €4.7 billion (US$5.5 billion). The budget law is now being discussed by the Italian parliament and will be voted on by the end of the year.
Del Re emphasized the importance of the role of 'Cassa Depositi e Prestiti', a state lender that operates internationally as a development bank, in building a stronger cooperation financial structure.
Italy is a reliable partner for development, according to the report, which highlighted its strong multilateral work, its stable presence in fragile countries, and its experience in crisis and emergency scenarios. The DAC examination also confirmed the particular importance that Italy gives to civil society organizations as well as its general inclusivity in development cooperation policy.
At the event, the OECD encouraged Italy to play a key role in promoting multilateralism during Italy's G20 presidency next year.