Is Foreign Aid Good or Bad?
Foreign aid can be defined as money, materials and services given or loaned by governments, organizations, or individuals in rich countries to help people in poor countries.
It is one of the approaches used in international development, apart from for-profit approach and social enterprise approach. It is the most common approach used and it offers free products and, or services to disadvantaged groups.
This topic has elicited mixed reactions as to whether impoverished countries should continue casting their hopes on developed nations for donor funds or relief, or they should be left to grow and develop independently.
Some have questioned whether foreign aid is really the best approach to stir international development. Some have discredited foreign aid on the grounds that its long term consequences are catastrophic.
Foreign aid should not be written off in its totality. This is because it is beneficial to conflict-ridden countries and those ravaged by disasters such as floods, earthquakes, famine, just but to mention a few.
Some of these disasters are endemic in nature, for instance, diseases. Donors can aid in providing health and medical services among other services to such areas.
Relief work is also welcomed in countries which have suffered civil wars or political instabilities, which could have resulted in them becoming refugees in neighboring countries.
In such scenarios, foreign aid is the best option since it provides immediate help to the victims of such unforeseen events. Aid is offered in terms of food, clothing, water, medical services among others.
Foreign aid is also known to nurture diplomatic relations between the donors and the recipient countries. This creates a positive back and forth relationships which could culminate into creation of new job opportunities, better security agreements among others.
In conclusion, foreign aid has its benefits and therefore should not be written off all together. In my next article I will focus on the flip-side of foreign aid and its negative effects to recipient countries and give my stance on this topic which has sparked heated debates across nations.