Funding Enormous Projects with Foreign Aid - 650 Words

Foreign aid simply means the economical or technical assistance that involves transfer of capital, goods or services from a country or an international organization for the good of the recipient country (normally a poorer country) and its population. It is aimed at funding enormous projects like construction of water systems and also to achieve the United Nations Millennium Development Goals such as reducing poverty, child mortality, and improving education in Africa. Of late, however, the abysmal failure of such projects has raised eyebrows as to whether foreign aid is still essential to the 21st century developing African countries. Below are some of the reasons for and against foreign aid in Africa. As a result of foreign aid, there have been improved standards in the provisions of health care, education, and infrastructure in most African countries. Influential philanthropists and foundations such as the Bill and Melinda Gates Foundation, Bill Clinton Foundation, Oprah Winfrey’s Leadership Schools have pumped in huge sums of money used for construction of schools, provision of clean water in war torn regions or slummy areas like Soweto or Gulu in Northern Uganda. It is also through foreign aid that friendly ties are strengthened between two or more governments participating in it. With this, countries have been able to trade with each other where most African countries’ GDP has tremendously increased. For instance, William Gumede of New African magazine states thatShow MoreRelatedLocal Impact On The Community1136 Words   |  5 Pagesprotect communities from unnecessary monetary and reputational perils. Global Impact Capacity to scale and sustain a business beyond its current confines is one of the prevalent issues a company faces. 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