European policies on ColombiaAn Vranckx, 2005
At the turn of the millennium, Latin America received about 11% of all Official
Development Aid (ODA) that all OECD countries taken together donated to development countries. The larger share of external resources that were being made available to Latin American socio-economic development endeavours was seen to originate in Europe. The sum of all European Union member states’ bilateral aid to Latin America and the Caribbean make that Union the largest source of ODA available to the region. Other significant external
donors to the Latin America region are – in that order - multilateral aid budget lines (in their turn, partly funded from European budgets as well), the United States, Japan, the European Commission and Germany.