- Monaco Worldwide
- Public Aid for Development and International Cooperation
- Principality reports its official development assistance to OECD for first time
Principality reports its official development assistance to OECD for first time
For the first time since this public policy was launched, the funds allocated by the Prince’s Government to official development assistance (ODA) have been reported to the Organisation for Economic Co-operation and Development (OECD), allowing Monaco to formally become part of the international alliance of countries providing such assistance.
ODA is the public guarantee of the Principality’s commitment to solidarity at the international level. It was in 1993, the year that Monaco joined the United Nations, that the first partnerships were entered into at the behest of Prince Rainier III. With the accession to the throne of H.S.H. Prince Albert II, the funds allocated to ODA were increased substantially, and in 2007 an implementation structure – the Department of International Cooperation – was created within the Ministry of Foreign Affairs and Cooperation.
“Monaco is making progress against several international development financing objectives, and today is one of the biggest spenders on development assistance per capita (nearly €600 in ODA per inhabitant in 2021),” explains Isabelle Rosabrunetto, Director-General of the Ministry of Foreign Affairs and Cooperation.
Monaco’s ODA policy is aligned with the United Nations 2030 Agenda and Sustainable Development Goals. It priorities human development and the fight against poverty, targeting the least developed countries in particular.
Finally, climate action accounts for more than a quarter of Monegasque public policy in this area. Among other things, the Principality finances the Green Climate Fund, which helps vulnerable populations to adapt to climate change.
The figures for 2022 were published on Wednesday 12 April, and showed an increase of 6.7% in the resources devoted by Monaco to development assistance.