What is meant by foreign aid? What are its main forms?
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Foreign aid is defined as the voluntary transfer of resources from one country to another country. This transfer includes any flow of capital to developing countries. ... Foreign aidcan be in the form of a loan or a grant. It may be in either a soft or hard loan.
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Foreign aid is the assistance that one receives from other countries in the form of money or any other help in kind.
Bilateral aid, multilateral aid, military aid etc are the main forms of Foreign Aid.
Explanation:
- The term specifically translates as assistance given out by other countries.
- When a nation undergoes issues that it cannot control or some kind of financial downturn, often other nations, as a form of gift, provide a loan or a grant that is expected to help the former tackle with its issues.
- India has taken foreign aid from other countries to tackle terrorism issues. In the United States, foreign aid includes military assistance as well as economic assistance.
Learn more about Foreign Aid:
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