The best way to help developing countries is to give them financial aid. DO you agree or disagree with this statement. Suggest alternative to this policy.

All developing countries require a lot of money to grow in various vital sectors
such
as education and medical services. Some people are of the opinion that providing financial
aid
to these countries can help them develop.
However
, others believe providing and investing in businesses can facilitate an increase in the economy of developing nations. I personally agree that funding can
aid
countries in the process of becoming developed nations.
To begin
with, providing money to developing countries can help them spend it appropriately in their areas of concerns.
In other words
, every country has various under performing sectors and several profitable sectors.
For example
, India is a fertile land so the agriculture
sector
makes a good profit to its income, whereas the health services
sector
requires a lot of work to cope up with nation's demand.
Therefore
, financial
aid
can provide flexibility for countries to spend funds according to their requirements.
On the contrary
, many are in favour of an alternate approach of investing or providing businesses.
This
means that the developed nations can either provide fresh businesses to developing countries or they can even invest in the existing businesses of the growing countries.
For example
, Japan is collaborating with the Indian government to introduce 'Bullet train' concept, so that the condition of railway
sector
improves in India.
Such
actions will boost infrastructure and employment opportunities in a developing country, but
also
contributes to the economy of the investing country. To conclude,
although
investing or providing businesses can speed up an existing
sector
, but a loss incurring
sector
requires an ample amount of finance to stabilize and become a booming one.
Therefore
, providing financial
aid
to developing countries is definitely a positive course of action.
Submitted by neerajgarg0710 on

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Topic Vocabulary:
  • financial aid
  • developing countries
  • essential services
  • infrastructure
  • fund mismanagement
  • corruption
  • vocational training
  • empower individuals
  • economic growth
  • fair trade practices
  • sustainable economies
  • fair compensation
  • technological assistance
  • infrastructure development
  • leapfrog development stages
  • foster innovation
  • good governance
  • anti-corruption measures
  • stable political environment
  • sustainable development
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