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Source: The post is based on the article “India got highest aid for trade from developed countries in 2020” published in Business Standard on 2nd August 2022.
What is the News?
The World Trade Organization(WTO) and Organization for Economic Cooperation and Development(OECD) have released a report titled Aid for Trade at a Glance 2022 report.
What are the key findings of the report?
According to the report, India received the largest amount of funding from developed countries in 2020 under the WTO’s Aid for Trade programme. Bangladesh was the second-largest recipient of aid.
Why is this report being disputed?
Trade experts have disputed this report. They have said that funds disbursed to India under ‘aid for trade’ may not be an accurate depiction of what India has actually received (as aid).
This is because India is a part of a few bilateral cooperation agendas but that does not translate into aid from developed nations. The report may have included such bilateral arrangements as aid.
What is the Aid for Trade programme?
Launched by: World Trade Organization(WTO)
Aim: To help developing countries and particularly the least developed countries trade.
The programme consists of official development support to build supply-side capacity and trade-related infrastructure to enable such countries to participate in international trade.
Note: Aid for Trade is included in Sustainable Development Goal 8 concerning “decent work and economic growth”, which is one of the 17 Sustainable Development Goals which were established by the United Nations General Assembly in 2015.
