Economic or technical assistance extended to developing countries by the governments of developed countries and international organizations, as contrasted with gifts, loans and investments financed by the private sector. Official development assistance is construed by the OECD Development Committee as including only ""concessional"" transfers to developing countries, meaning that all or part of each ODA transaction is a grant or is loaned at rate of interest and/or on repayment terms more beneficial to the recipient than market rates and terms.