least developed countries

Last week the OECD, an inter-governmental organisation gathering the world’s richest countries, released its annual figures on how much aid, or overseas development assistance, went to developing countries in 2015. On the surface, there is reason to celebrate: once you take out inflation and exchange rate changes, the overall net amount of aid is the highest ever reported, totaling $131.6 billion after an already record-high couple of years. That’s quite an achievement, particularly for those European donors who last year had to face major unexpected challenges, such as the arrival of migrants and refugees at their doorstep.