Foreign Aid A Long Track Record - 928 Words

Help Or Hindrance Foreign aid has a long track record. The biggest upside appears to be the injection of large sums of money into developing countries otherwise gripped by poverty, war and conflict. In theory, the funds should improve lives and raise people out of poverty, leading to sustainable growth and development. The unfortunate truth, however, is that foreign aid has often presented more challenges than opportunities to aid recipients. Aid has been mandated by government versus relying solely on private donations. We’ve seen small improvements across the globe, from reducing poverty to slowing population growth to curing and preventing diseases. Progress that otherwise would have been absent without an outpouring of foreign support (Tan Keo, 2013). However, the impact from aid has not been proportionate to the amount of money donated. Foreign aid’s biggest downside is that no clear, effective system has been put in place to hold aid recipients and their governments accountable for resources illegally taken from public sector reserves. Unfortunately, the absence of that system reinforces social inequities and perpetuates cycles of political abuse that has led to a sophisticated new form of authoritarianism – one that empowers the elite few, while keeping a majority of people in abject poverty (Tan Keo, 2013). Philippine’s Results of Aid Lending institutions produce foreign aid with good intentions; however, the results are not often measured. Secretary of SocialShow MoreRelatedAid to Africa: A Review of the Efficacy of International Aid to Sub-Saharan Africa1695 Words   |  7 Pagesarisen from the problematic nature of the administration of the aid. Traditionally, aid has come in the form of military aid, and large international financial transactions. 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