Also known as ”foreign aid”. ODA is defined by the OECD Development Assistance Committee (DAC) as government aid that promotes and specifically targets the economic development and welfare of developing countries. It comprises flows to countries and territories on the DAC List of ODA Recipients and to multilateral development institutions that are: I. Provided by official agencies, including state and local governments, or by their executive agencies; and II. Concessional (i.e. grants and soft loans) and administered with the promotion of the economic development and welfare of developing countries as the main objective. The DAC list of countries eligible to receive ODA is updated every three years and is based on per capita income.