On May 27, the participants of Liberty Discussion Group sat down at Gaia Restaurant to discuss on the issue of Foreign Aid. The discussion was on ‘Does foreign aid work?‘ by Christian Bjornskov as suggested by one of the participants.
Few takeaways from the discussion are as follows:
- The foreign aid does not contribute to the economic growth of the country. Government lacks proper vision regarding optimal use of aid.
- A large portion of the aid goes into the hands of NGOs/INGOs. These NGOs/INGOs have failed to deliver as they spend more on administration, rather than development purpose.
- The donors have their own vested interest in providing the aids. Those interest are market capture, creating cultural, economic and political dominance.
- Government should seek for other sources of financing their expenses such as internal borrowing rather than foreign aid.
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