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Development Aid: Why European countries give more aid than others

The best-known philanthropists may herald from the U.S., but the leading European nations send far more aid overseas in proportion to the size of their economies.

While the U.S. is much the biggest provider of overseas development aid (ODA) in absolute terms — sending $32.2 billion abroad in 2014 — it falls behind if its aid is considered as a proportion of gross national income (GNI) — a measure that aggregates gross domestic product (GDP) with income obtained from abroad.

"Europe has a long, if occasionally somewhat troubled, history of being strongly engaged in global affairs — aid and development is a part of this," Bond, a network of over 400 international development organizations and the U.K. Aid Network, said in a statement to CNBC this week.

Note EU-Digest: Maybe by cutting their inflated military budget and putting some of those funds into development aid the US could certainly get more "bang for their buck" than pouring it into the bottomless military budget, like they do now, with very little to show for?

Read more: Development Aid - Why European countries give more aid than others

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