The Expansion Of Foreign Aid - 2475 Words

In the denotation of foreign aid takes many definitions in different literature, but as Tarp provided it is government transfers from donor countries to under developed or poor countries. That is intended for promoting development and reducing poverty, although there may be other aims of giving aid. As there are major trend of foreign aid and most reasonable issues that foreign aid fluctuated in different years, therefore the paper will look back the trend of foreign aid and it’s changes in globally that has started from 1940s one of the major trend of foreign aid that happened in the world was European recovery programs known as marshal plan which its main aim was assistance from United states of America to recover Europe. Also the paper will focus on how 1980’s oil shocks changed economic nature as well as how multilateral support increased in 1970’s there were also other foreign aid trends cited in this paper as the end of Berlin wall and downfall of soviet union and in that time aid has really peaked in real terms from 1974 to the final of the Cold War as some countries attained greatly UN ODA target of 0.7% of national income (OECD, 2011) As the same time second part of this question will discuss reasons why the donor countries grant bilateral aid to poor and developing countries, rather than financial crises, reducing poverty, recovery procedures and economic stability which are common but some scholars like (Lumsdaine, 1993) believes that aid are given not onlyShow MoreRelatedThe On Foreign Aid Through Expansion Of The Local Economy Essay1908 Words   |  8 PagesAs discussed in earlier sections, the Rwandan government has a strong desire to reduce the reliance on foreign aid through expansion of the local economy. 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