Total official development finance (ODF) to Southeast Asia fell to US$26.1 billion in 2024, down 9.8% from 2023, according to the Lowy Institute’s 2026 Southeast Asia Aid Map report. Traditional bilateral partners drove most of the decline, while multilateral development banks stepped up. China’s financing also fell, so it did not replace the shortfall. The figures describe comprehensive data through 2024; 2025 figures are estimates or projections, not confirmed totals.
What the 2026 Southeast Asia Aid Map report measures
The report tracks official development finance to Southeast Asia, a broad category of public development funding that should not be confused with official development assistance (ODA), the narrower measure used in comparisons of OECD donor budgets. The Lowy Institute’s interactive map lets readers compare donors, recipients, sectors and time periods, with country profiles and project-level information. Its published map dataset covers US$290 billion across 130,000 projects from 2015–2023; those scope figures describe the interactive dataset, not the full period of the 2026 report’s findings. Lowy Institute Southeast Asia Aid Map
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The latest comprehensive year in the report is 2024. The 2025 numbers available alongside it are forward-looking estimates and projections. The accessible report material does not establish a full operational definition of ODF, country inclusion rules, whether every figure represents commitments or disbursements, or uncertainty intervals, so those details should not be inferred from the headline totals.
Why did finance fall in 2024?
ODF to Southeast Asia fell 9.8%, from US$28.9 billion in 2023 to US$26.1 billion in 2024. Lowy describes 2024 as the lowest level since 2015. The main driver was a retreat among traditional bilateral partners: their ODF total was US$8.7 billion, US$1.1 billion (11.6%) below the prior year. Japan’s reduction drove the overall fall, even as France, Germany, South Korea and the UK increased their contributions. Lowy Institute analysis of the 2026 report
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Multilateral development banks (MDBs), including the Asian Development Bank (ADB), World Bank and Asian Infrastructure Investment Bank (AIIB), stepped up as bilateral partners pulled back. That shift matters for the composition of funding, but the available figures do not establish that MDBs fully offset the bilateral decline.
China did not fill the bilateral shortfall
China’s ODF to Southeast Asia was US$3.67 billion in 2024, down 22.7% from US$4.74 billion in 2023. Its share of bilateral regional ODF averaged about 20% across 2015–2024, but was around 14.5% from 2022. The 2024 decline therefore runs against the idea that Chinese finance replaced the retreating bilateral sources. Lowy Institute analysis of China’s role in regional ODF
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Infrastructure finance is concentrated among a few funders
Six financiers accounted for 90% of Southeast Asia’s infrastructure spending in 2024. China was the largest share at about 31%, followed by Japan at 21%, ADB at 17% and the World Bank at 10%. Across 2015–2024, China accounted for 39% of infrastructure finance. The figures show both China’s continuing importance in infrastructure and the distinct mix of funders involved; they do not mean that China supplied 39% of all regional ODF over that period. Lowy Institute analysis of infrastructure financing
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Lowy says ODF continues to support infrastructure, health, education, social assistance and domestic policy reform, particularly in lower-income Southeast Asian countries and emerging economies such as Indonesia and the Philippines. The Institute also assesses that social protection receives a larger share of regional ODF than the global average, but that this focus has stagnated outside crisis periods. The available material does not provide a numerical share for social protection.
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If funding weakness continues, the concern is not limited to large infrastructure projects: sectors supported by ODF could also face pressure. That is a risk implied by the reported direction of finance, not a quantified forecast of cuts to any specific sector or recipient.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to read the 2025 outlook
Lowy’s initial estimate is that total ODF fell by at least another US$800 million in 2025. A separate report-linked projection says traditional bilateral partners’ reductions could lower ODF by a further US$1.76 billion that year. These are estimates and projections, not comprehensive observed 2025 totals, and should not be added together as if they were independent, finalized measures. Lowy Institute’s 2025 outlook
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For readers using the interactive map, comparisons by donor, recipient, sector and year can help distinguish a regional total from changes in a particular country or funding area. Keep the map’s 2015–2023 dataset scope separate from the report’s 2024 findings and provisional 2025 outlook.
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