Egypt "Largest Recipient" of Official Development Assistance in Africa- AfDB

Egypt leads African countries in terms of obtaining development funds in 2021, at a value of $8.2 billion.

The African Economic Outlook 2023 reported that Official development assistance (ODA) for Africa has stabilized at $65 billion in 2021 after the 28% jump in 2020.

The sudden rise in ODA since 2020 reflects the support provided by the international community to help African governments address the humanitarian, social and economic impacts of the pandemic crisis and difficult global conditions.

Egypt topped the African countries that witnessed the largest increase in official development financing in 2021 (428%), Equatorial Guinea (115$), Angola (109%), Gabon (82%), and Sudan (60%).

The bulk of ODA for Africa in 2021 was concentrated in Egypt ($8.2 billion), Ethiopia ($4 billion), Sudan ($3.8 billion), the Democratic Republic of the Congo ($3.5 billion), and Nigeria ($3.4 billion). and Kenya ($3.1 billion).

The largest recipient of African financing in 2021 received more than half of all official development finance flows to the continent.

African states need to take advantage of external support to address existing vulnerabilities and build more resilient economies, especially given the risks that advanced economies could reallocate resources to reconstruction and humanitarian assistance in Ukraine at the expense of meeting the ODA commitments to Africa.

The report issued during the activities of the annual meetings of the African Development Bank Group in Sharm El-Sheikh, Egypt, monitored that total external financial flows to Africa (foreign direct investment, portfolio investments, official development aid, and remittances) increased by about 20% after their decline in 2020, to reach to $216.5 billion in 2021.