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Official Development Assistance (ODA)
 

 

A measure of the flow of aid to eligible developing countries and multilateral development institutions defined and compiled by the Organization for Economic Co-operation and Development. It is commonly used in aid targets and in the assessment of aid performance. For example, the United Nations target for international aid, established in 1970, is that donor countries should aim to spend 0.7 per cent of their gross national product as ODA.  

Reference: Oxford Press Dictonary of Economics, 5th edt.