The Government is fully committed to delivering on the 0.7% ODA:GNI target by 2030. Achieving this commitment would mean a tripling of current allocations and sustained, substantial increases beyond the lifetime of the current Dáil. The Department of Foreign Affairs and Trade will engage in careful planning and consultation with other Departments and stakeholders as we seek to grow Ireland's development co-operation programme.
It is important to note that budget choices are always made against a backdrop of competing domestic priorities and changing economic conditions. Budget 2020 was prepared in exceptional circumstances and on the basis of Government assessments of the implications of a possible no-deal Brexit. In that context, the allocation of €838 million to ODA is a significant budgetary commitment by the Government to international development. This represents the sixth consecutive year the total allocations to ODA has increased and funding levels are now approaching pre-financial crisis levels. It comes on the back of budget 2019, which saw the highest increase in funding available in over a decade. Funding for ODA was increased by €114 million last year.
These additional resources provide the basis to begin to grow the development co-operation programme and make progress towards delivering on the initiatives and commitments outlined in A Better World, Ireland's policy for international development which was published earlier this year. We will also work to ensure that we have the necessary capacity, systems and structures in place across Government to enable Ireland to grow the ODA budget into the future, while maintaining our reputation for quality development co-operation.
In simple terms, we are now spending over €800 million per year and, by 2030, that figure needs to be close to €2.5 billion per year. That is where we need to get to and that will mean substantial and sustained increases, year after year, and regardless of who is in budget-----