No significant increase in aid for developing countries

Philanthropy is being transformed as technology opens the door to speedier, less costly forms of giving and inspires people of all ages and incomes to get involved. Wealthy corporate leaders and foundations are urging innovative approaches, from social entrepreneurship to combining for-profit and charitable enterprises. New tax laws are encouraging philanthropy in Europe and elsewhere.

"What I find exciting about private giving is that it's reinventing foreign assistance," says Carol Adelman, director of Hudson's Center for Global Prosperity.

But there's no sign yet that this dramatic change means a significant increase in resources for developing countries.

Official development aid from the 22 donor nations decreased from $106 billion in 2005 to $104 billion in 2006.

[Compare the importance of money sent home by migrant workers.] Developing nations received $122.4 billion in migrant workers’ remittances from donor countries in 2006.

Thus the most positive note for poor nations appears to rest in the surge in remittances sent by migrants to their families.

[Christian Science Monitor]