Helping Africa Help Itself: A Global Effort by Anup Shah
Author:Anup Shah
Language: eng
Format: epub
Published: 2019-02-26T16:00:00+00:00
In 2003 food aid from the United States bound for drought-stricken Ethiopia is delivered at Djibouti Town, in the nearby country of Djibouti. That year the Food and Agricultural Organization of the United Nations announced that approximately 11.3 million Ethiopians required food assistance.
FORMS OF FOREIGN AID
Some nations have addressed problems of poverty and debt by obtaining outside economic assistance from developed countries and multilateral institutions such as the World Bank and IMF. Such assistance may be in the form of grants, loans, or concessional loans.
Grants are funding given without requiring repayment. On occasion, cash grants may be given to a government to support its service debts; purchase specific goods; or provide for economic, education, or health programs. In an effort to promote economic development at the community level in impoverished countries, grants may also be given to microcredit organizations—groups that give very small loans to very poor, unemployed individuals who are trying to establish businesses. Such microentrepreneurs would normally not be able to receive any financial support through traditional banking services.
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Helping Africa Help Itself: A Global Effort by Anup Shah(109)
