Foreign aid refers to offering assistance, financially and other ways, to other countries. It is beneficial to both the country giving aid and the one receiving. No matter how beneficial this practice may be, there is an opposition.
7 Pros of Foreign Aid
1. Over one million residents live in great poverty. If targeted efficiently, this assistance can make a valuable contribution to enhancing the lives of many people, decreasing inequality and encouraging justice. A basic idea for efficient foreign assistance is that it must be concentrated on lessening shortage and poverty. This marginalized the rights and interest of the deprived people, through the center of many programs.
2. In humanitarian crisis, lives are in danger. If an individual is in desperate want of water, food, shelter and medical assistance as an outcome of conflict, famine or natural disaster, foreign aid is a good way to enhance their life. Such emergency care is the accountability of organizations and nations which have the capability to give and to help.
3. Foreign assistance enhances healthcare, infrastructure as well as education provision standards, as a result developing economic foundation as well as social development.
4. Humanitarian assistance is essential for developing nations. Thus, very low standard of living, individual is such nation feels lack of the essential amount of medicine and food. So, the need of foreign assistance is not doubted.
5. Foreign assistance is intended in order to relieve suffering. A lot of nations in don’t have the transportation for a developed economy, and foreign assistance, help the nation in making permanent addresses to issues related to poverty.
6. Foreign assistance is also an ideal way of creating a strong bond with other nations, gain political determination for world concern and deals and curb terrorism on the other hand these are the purest sense of assistance.
7. This assistance is intended to ease a temporary issue like poverty because of the war, lasting concern as well as assisting financial sector and local banking.
2 Cons of Foreign Aid
1. Foreign aid can lead a nation to depend on another nation. A country frequently live on assistance and this assistance serve as a reason to prevent serious reforms of the structure. For helping the country, assistance seems difficult when the donor state like the US, can’t afford to pay the debts, both private and public. In most cases, the assistance is not appropriate, coming from the giver state’s insight of an issue instead of actual issues. Moreover, foreign assistance can keep a government which may be the reason of the issues to start with.
2. Fresh ideas currently were carried into the policy of foreign assistance. Academics and policymakers have started worrying regarding targeted plans which particularly tie assistance with the reform of structures in a particular sector like agriculture and banking. Foreign aid is not all about money, but also about structural and attitudinal reforms.
The main objective of foreign assistance is to bring the nation into the world marketplace. The money inserted into the market is intended to ease this type of transition.