Net transfers of external PPG debt to LMICs except China, as current USD and as percentage of recipients' GDP, Source: World Bank International Debt Statistics (2024), World Development Indicators (2025] Bilateral official debt financing growth is limited. in 2023. The net transfers of multilateral debt In 2023, external PPG debt disbursements fromfinancing flows to LMICs started to increase from bilateral official creditors represented just 0.26%2007, particularly during the global financial crisis of GDP for LMICs. This share has been in(2008-2010) and the COVID-19 period (2020- decline between 1995 until the mid-2000s. After2023). In 2023, the net transfer of multilateral 2007, although disbursement showed a significantflows reached $46.70 billion, representing 0.24% upward trend, its contribution as a percentageof GDP. increased from 0.16% in 2006 to 0.26% in 2023. pattern. Both disbursement and net transfers have growth. The disbursement of multilateral debt significantly increased since 2010. Disbursement peaked in 2017 (1.66% of GDP) before significantly before 2008 financial crisis, much lower than thedeclining. During the COVID period, private GDP growth rate of developing countries, leadingdisbursements decreased by over 40% (from over to a decline in percentage of GDP. After 2008, the disbursement grew rapidly, tripling by 2023 (from2023), while net transfers turned negative since around $40 billion in 2008 to over $120 billion2020 (-$32.12 billion in 2023). in 2023). The disbursement as a percentage of GDP also increased from 0.38% in 2008 to 0.65%