Latin America and the Caribbean is the region in the world that attracts the most funds from philanthropic foundations that allocate their funds to development, although the countries that appear at the top as the main recipients are India and China.
In a report published this Thursday, the Organization for Economic Cooperation and Development (OECD) explains that of the US $ 24,000 million attributed between 2016 and 2019 by these foundations directly to countries or regions, 6,664 million went to Latin America and the Caribbean.
The main donors for the region were the Microfinance Foundation of the Spanish bank BBVA and different entities from Mexico, Colombia and Brazil.
The major beneficiaries in Latin America were Peru with US $ 2.16 billion; Colombia with 1,408 million; Mexico with 1,265 million; and Brazil with 542 million.
Behind Latin America and the Caribbean, which accounted for 16% of the donations attributed by country, were South Asia (15%) and Sub-Saharan Africa (13%).
In absolute terms, India was in first position with US $ 5.499 million, followed by China with 2.971 million.
In total, during the 2016-2019 period, the 205 philanthropic foundations studied devoted a total of $ 42.5 billion to development projects (including the $ 24 billion directly attributed to countries or regions).
That supposes an annual average of 10,600 million that is equivalent to 7% of the public aid to the development of the countries of the Committee of Development Assistance of the OECD.
The Bill & Melinda Gates Foundation alone contributed $ 16.1 billion over those four years, 38% of the total.
This largely explains why the United States is the country from which more than half of the funds come (US $ 24,301 million), followed at a great distance by Spain (3,987 million) by the BBVA Microfinance Foundation.
The authors of the report note that of the 205 foundations in their sample, 116 are based in emerging countries, to which their philanthropic actions are directed and in the reference period they contributed US $ 7.9 billion, 19% of the total.
In fact, there are countries like India, China and Mexico where local organizations contribute more funds than foreign ones.
The most paradigmatic case is that of India with the founding of the industrial group Tata, which in those years put up US $ 900 million.
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