Poor countries often get a lot of assistance from developing countries of which financial assistance is one kind. While I think financial aid from developed countries has a certain contribution to the development of developing countries, I agree with the view that these countries need other kinds of assistance rather than finance only. The following paragraphs will clearly clarify my opinion.
As undeveloped or developing countries really need money to develop infrastructure, transportation… In this case financial aid from richer countries can help effectively. They can use money from these funding to build power plants, roads, transportation… and many other facilities to ensure the basic conditions to develop their economies and attract investment from outside. For example, an amount of more than USD 5 billion ODA loans from Japan has been received and used in development of Vietnam’s power systems since 1999 which have greatly helped to improve Vietnam’s infrastructures a lot.
However, to develop sustainably poor countries need a lot of things which are more than money. Thus, instead of only providing financial assistance, wealthy countries may take into consideration other types of assistance such as technical assistance, capacity building assistance, technology transfer assistance… For example, assistance to improve financial transparency and management capacity for the governments of less developed countries will help them better manage the funding from financial support, thereby ensuring the purpose and high efficiency of using this capital. Or another example, receiving advanced technologies which are supported and transferred by developed countries so that poor countries can approach and utilize their own resources internally for sustainable development without much dependence on financial support.
In conclusion, I do agree with the view that financial assistance from developed countries have a certain role in the development of less developed countries, but it is not all. There is a famous saying “If you give a man a fish, you can feed him a day. But if you teach a man how to fish, you can feed him a lifetime”. The developed nations should pay more attention and take active interest in other kinds of assistance such as education or skills development for people in poor countries rather than financial aids.
Poor
countries
often
get
a lot of
assistance
from developing
countries
of which
financial
assistance
is one kind. While I
think
financial
aid from
developed
countries
has a certain contribution to the
development
of developing
countries
, I
agree
with the view that these
countries
need
other
kinds of
assistance
rather
than finance
only
. The following paragraphs will
clearly
clarify my opinion.
As undeveloped or developing
countries
really
need money to develop infrastructure, transportation…
In this case
financial
aid from richer
countries
can
help
effectively
. They can
use
money from these funding to build power plants, roads, transportation… and
many
other
facilities to ensure the basic conditions to develop their economies and attract investment from outside.
For example
, an amount of more than USD 5 billion
ODA
loans from Japan has
been received
and
used
in
development
of Vietnam’s power systems since 1999 which have
greatly
helped
to
improve
Vietnam’s infrastructures a lot.
However
, to develop
sustainably
poor
countries
need
a lot of
things which are more than money.
Thus
,
instead
of
only
providing
financial
assistance
, wealthy
countries
may take into consideration
other
types of
assistance
such as technical
assistance
, capacity building
assistance
, technology transfer
assistance…
For example
,
assistance
to
improve
financial
transparency and management capacity for the
governments
of less
developed
countries
will
help
them better manage the funding from
financial
support, thereby ensuring the purpose and high efficiency of using this capital. Or another example, receiving advanced technologies which
are supported
and transferred by
developed
countries
so
that
poor
countries
can approach and utilize their
own
resources
internally
for sustainable
development
without much dependence on
financial
support.
In conclusion
, I do
agree
with the view that
financial
assistance
from
developed
countries
have a certain role in the
development
of less
developed
countries
,
but
it is not all. There is a
famous
saying “If you give a
man
a fish, you can feed him a day.
But
if you teach a
man
how to fish, you can feed him a lifetime”. The
developed
nations should pay more attention and take active interest in
other
kinds of
assistance
such as education or
skills
development
for
people
in
poor
countries
rather
than
financial
aids.