FOREIGN AID AND THE NATION

 FOREIGN AID AND THE NATION

 

Foreign Aid is money, materials and services given or loaned by the governments, organization and individuals in rich countries to help people in poor countries. Some of different types of foreign aid are Bilateral, Military, Multilateral Aid and humanitarian assistance. Foreign assistance is aid given by the United States to other countries to support global peace, security and development efforts and provide humanitarian relief during crisis. We should know about its advantage and disadvantage for using. There are many advantages of foreign aids – save lives, relived livelihoods, provide medicine, agriculture aids, encourage development, top natural resources and promote sanitation etc. In spite of these advantages there are so many disadvantages too. Increase in dependency- less economically developed countries may become increasingly depend on donor countries, that makes heavily indebted. Economic, Political pressure- a donor country places an economic pressure on the receiving country, forcing them to return. More expensive commodities - due to development progress, there is inflation, which causes prices of commodities to increase, as a result poor people become more deprived. Foreign aid is sometimes given to a country to benefit foreign owned corporation and entities. So, the help is not directed to the less fortunate, but to its own people.

It may only benefit large corporation and weakly employees and not that people who do not have jobs. So, giving help to Lower Economically Developed Countries (LEDCs) is noble thing nation must properly monitor and manage the flow of foreign aid who need it. It should not go right into pockets of corrupt and greedy entities. Nation should work hard for her growth.  

 

© Sumana Naznin