Question

Explain the role of foreign aid in economic development

Answer 1

Answer:

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Foreign aid takes place when a recipient country receives additional resources in foreign currency over and above the capacity to import generated by exports. Foreign aid means those additional resources, which are used to raise the performance of the recipient country above the existing level.The way donors give foreign assistance may also influence its usefulness in promoting economic and so- cial development. Aid may be given to alleviate the effects of natural disasters, protect the donor nation's political and strategic interests, or increase the donor's exports.

Explanation:

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