About Aid
Foreign Aid is the international transfer of goods, services and capital from a country or international organisation, for the benefit of the recipient country and its population. [1] Effective Aid Programmes are crucial to developing countries to become self-sufficient. Despite a large amount of investment, problems don't seem to go away.
The UN created 17 sustainable development goals to be met by the year 2030. These goals are bolder and more ambitious than previous set by the UN. For example the first goal, 'No Poverty' aims to eradicate poverty completely. Many of the above sustainable development goals are implemented through various forms of international aid. The success of these goals is highly dependent on the continuation of foreign aid. [9]
History
Foreign is aid is a fairly recent concept. The early beginnings of foreign aid started with European colonialism shifting its economic, political and growing humanitarian interests. Even though colonies gained independence foreign aid support continued, which invested in infrastructure. Also, rich countries such as; Germany, France and also Britain were providing regular aid to their colonies in Africa, Latin America and Asia. The early years of aid highlight that it is largely an investment, in which the giving country will benefit from. Foreign aid has an element of good will but is largely a political and economic exchange. Foreign aid increased significantly post-war period. [3]
Timeline
19th - Early 20th century
European superpowers gave large amounts to help improve infrastructure and increase economic efficiency [3]
1980s
Foreign aid slows due to recession's in 1970's [3]
1947
First major foreign aid arrives with Marshall Plan. After WW2, the US funded over $13 billion to assist with the reconstruction of Europe. [3]
Present
Millennium goals, and the recent sustainable development goals, 2030.
Foreign Aid presents an ideological battle, whether foreign aid should facilitate economic growth or provide programmes that directly meet the basic needs of people. Or how to balance and support both. [3]
