It is believed by many that the financial aid received by developing countries from developed Nations is a major form of assistance, however another school of thought has been able to counter this opinion stating that other forms of assistance supersede that of monetary gains, I am of the opinion that there is more to development than money handout.
Firstly, the help received by these underdeveloped countries are not usually accounted for resultantly, used for what it was intended. Most of the funds have been known to be embezzled by their top leaders thus leaving the financed project unattended. In other words, monies meant for developmental projects are being channeled to other uses which will not yield the desired results.
For example, the ETFund (Educational Trust Fund) project, which was given to Nigeria by UNICEF was misappropriated by the then leaders.
Additionally, the elimination of poverty can only occur organically and any attempt to eradicate it with an otherwise method will only prove abortive. Several political scientists have analysed the effects of top-down approach in solving the menace poverty, and they have discovered that the only lasting solution is a bottom-top approach which involves efforts such as, developmental projects- the construction of roads and bridges, opening their border to allow products from third-world countries, this in turn will improve the GDP (Gross Domestic Product) of these African Nations.
In conclusion, I am of the opinion that monetary aid from Advanced Nations to Poor Countries have proved to be ineffective over time. And as such, other forms of assistance like opening the border and allowing African products into their shores, awarding contracts that UNICEF is popular for and ensuring Foreign Direct Investments are better alternatives to financial aid.
It
is believed
by
many
that the financial aid received by developing
countries
from developed Nations is a major form of assistance,
however
another school of
thought
has been able to counter this opinion stating that
other
forms of assistance supersede that of monetary gains, I am of the opinion that there is more to development than money handout.
Firstly
, the
help
received by these underdeveloped
countries
are not
usually
accounted for
resultantly
,
used
for what it
was intended
. Most of the funds have
been known
to
be embezzled
by their top leaders
thus
leaving the financed
project
unattended. In
other
words, monies meant for developmental
projects
are
being channeled
to
other
uses
which will not yield the desired results.
For example
, the
ETFund
(Educational Trust Fund)
project
, which was
given
to Nigeria by UNICEF
was misappropriated
by the then leaders.
Additionally
, the elimination of poverty can
only
occur
organically
and any attempt to eradicate it with an
otherwise method
will
only
prove abortive. Several political scientists have
analysed
the effects of top-down approach in solving the menace poverty, and they have discovered that the
only
lasting solution is a bottom-top approach which involves efforts such as, developmental
projects-
the construction of roads and bridges, opening their border to
allow
products from third-world
countries
, this in turn will
improve
the GDP (Gross Domestic Product) of these African Nations.
In conclusion
, I am of the opinion that monetary aid from Advanced Nations to Poor
Countries
have proved to be ineffective over time. And as such,
other
forms of assistance like opening the border and allowing African products into their shores, awarding contracts that UNICEF is popular for and ensuring Foreign Direct Investments are better alternatives to financial aid.