2 Answers | Add Yours
Economic aid can be a blesing or a curse for a developing country, depending on soem basic factors:
1. What is the nature of the aid--is it a money grant? Is it technical assistance, or training? Is it in some other form? The type of aid often matters a great deal and affects how its used. Generally, its better to have some sort of training/technical assistance that 'enables' the developing country and its personnel rather than borrowing money or calling in 'experts' from developed nations who might or might not be useful or helpful.
2. What and how is the aid to be used? i.e. The basic project/s and or concept/s that any aid is being spent on or planned to be spent on; the time frame, the socio-economic benefits etc.
and so on.
In general terms, however, today, when we talk about 'economic aid' to developing countries, we certainly take into account the fact that it is probably better to try to meet various development targets/goals in a developing country from within its own resources and indigenous ways and means; in what is termed a 'sustainable' manner.
Aid has worked in the past, given the right set of conditions and proper usage, and it has also failed to help.
Hey thanks ... very helpful, it was a broader perspective but at the same time pinpoints how it can work when you take into consideration the various factors.
We’ve answered 317,981 questions. We can answer yours, too.Ask a question