The Group of Seven (G7) countries, which together account for around three-quarters of all official development assistance (ODA), are set to slash their aid spending by 28 percent for 2026 compared to 2024 levels.  

It would be the biggest cut in aid since the G7 was established in 1975, and indeed in aid records going back to 1960, reveals a new analysis by Oxfam ahead of the G7 Summit in Kananaskis, Canada.

“The G7’s retreat from the world is unprecedented and couldn’t come at a worse time, with hunger poverty, and climate harm intensifying. The G7 cannot claim to build bridges on one hand while tearing them down with the other. It sends a shameful message to the Global South, that G7 ideals of collaboration mean nothing,” said Oxfam International Executive Director Amitabh Behar.

2026 will mark the third consecutive year of decline in G7 aid spending – a trend not seen since the 1990s. If these cuts go ahead, G7 aid levels in 2026 will crash by $44 billion to just $112 billion. The cuts are being driven primarily by the US (down $33 billion), Germany (down $3.5 billion), the UK (down $5 billion) and France (down $3 billion).