Iceland allocated 0.21 percent of its GNI to development aid in 2014, which is way below the United Nations target of 0.7 percent. Iceland’s contribution to official development assistance (ODA) remained unchanged from the year prior, the OECD reports.
Iceland’s contribution is also way below that of the other Nordic nations, with which Iceland likes to compare; Finland is the only other Nordic nation not reaching the ODA target with 0.6 percent of GNI, while Sweden, Norway and Denmark all exceed the target with Sweden allocating as much as 1.1 percent of GNI to development aid.
Development aid flows were stable in 2014, after hitting an all-time high in 2013, but aid to the poorest countries continued to fall, according to data collected by the OECD Development Assistance Committee (DAC).
Thirteen countries reported a rise in net ODA, with the biggest increases in Finland, Germany, Sweden and Switzerland.
Fifteen DAC members reported lower ODA, with the biggest declines in Australia, Canada, France, Japan, Poland, Portugal and Spain.
Only five countries— Luxembourg and the UK in addition to Denmark, Norway and Sweden—exceed the UN target.