Official Development Assistance
The Organisation for Economic Co-operation and Development (OECD), defines the Official Development Assistance (ODA) as the interactions and flows for countries which are included in the list of the Country Programmable Aid (CPA) and to multi-lateral development agency which provides aid to countries in this list and:
These interactions and flows are provided by official institutions, including state and local governments, or by their executive wing.
Aims to promote economic development and welfare of developing countries.
Benefits from a grant element which is at least 25% of the total (according to a 10% base lending rate).
The loans, where the grant element is at least 25%, are controlled by the National planning department and not for APC-Colombia.
This type of cooperation refers to bilaterally provided transactions, directly managed from a donor to a recipient country.
They also include transactions between national and international non-governmental organizations involved in development and other internal transactions related to development as subsidized interest rate, knowledge development promotion costs and administrative expenses.
Bilateral AOD includes aids projects and programs, technical assistance, food aid, reducing debt aid and humanitarian aid.
Multilateral cooperation is provided by international organisms which can be a member of United Nations or multilateral bank (World bank, Inter-American development Bank,Latin-American development bank).
This multilateral cooperation can be financed using the own resources of these organizations or with funds from other international cooperation fonts, in this case each organism manage their own resources.