“International aid to developing countries fell for the second year in a row, as the European debt crisis continued to weigh heavily on the wealthiest nations. Grants and loans intended to benefit developing nations declined by 4% in 2012, after falling 2% in 2011.

“The United States gave just over $30 billion in aid last year, roughly 1% less than the previous year. Nevertheless, it was still more than double the second largest contributor. While significant, the amount accounted for less than 0.2% of the country’s gross national income (GNI), far less than most contributing countries.

“Developed countries measured by the Organization for Economic Cooperation and Development (OECD) gave an average of 0.31% of gross national income to developing countries in aid. Some countries, generally the ones able to afford it, contributed much more to foreign aid. Eleven countries spent at least 0.45% of their GNI in aid to developing nations, with Luxembourg spending a full 1%. Based on a recent OECD report, 24/7 Wall St. reviewed the world’s most generous countries.

Based on the latest OECD data, 24/7 Wall St. reviewed the 11 countries that gave the most in foreign aid to developing countries, listed by the OECD as official development assistance as a percent of gross national income. 24/7 Wall St. looked at additional data provided by the OECD, including previous years of development assistance, gross national income, unemployment rates for 2012, net financial liabilities as a percentage of GDP, and social spending as a percentage of real GDP, which includes pensions and health care as well as public assistance programs like unemployment benefits and welfare. From the IMF, we reviewed government debt as a percentage of GDP for 2011. Moody’s provided foreign currency ratings as of April 4, 2013. All data are for the most recent available full years.

These are the most generous countries in the world.

SOURCE: 24/7 Wall St.