UAE was ranked as the most generous development aid donor in the world as share of its economy in 2014 by a new report from the Organization for Economic Cooperation and Development’s Development Assistance Committee.

HH Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai,  said the top ranking, for the second time in a row, reflected the nation’s founding principles of unconditional support for those in need.

The UAE Ministry of International and Cooperation Development (MICAD) said the UAE gave Dh18 billion ($4.89 billion) in 2014, equivalent to 1.17 per cent of its gross national income (GNI), said a Wam news agency report.

"This confirms the UAE's commitment to its global development mission and to the principles on which this nation was founded. We will continue to reinforce our position as a global hub for humanitarian relief for all those in need of our help," Sheikh Mohammed said.

According to the initial data that was released today by the committee, Sweden is in the second position with 1.10 per cent of GNI, followed by Luxembourg in third position with 1.07 per cent.

Sheikh Mohammed pointed out that besides its strong levels of official development aid, the UAE is also home to numerous humanitarian and charitable institutions and host to a global humanitarian city.