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.

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