Rich countries often give money to poorer countries, but it does not solve poverty. Therefore, developed countries should give other types of help to the poor countries rather than financial aid. To what extent do you agree or disagree?

In the modern world, developed nations often extend monetary help to developing or under-developed nations for various diplomatic reasons. While it is a way to exercise soft power over the lesser developed

countries

for some, other

countries

contribute for humanitarian purposes.

However

, I agree that in both cases substantially alleviating the distress of low to no income households in

third

world nations is not achieved. There is a two-fold reason for the non-effectiveness of mere financial aid in addressing

poverty related

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poverty-related

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issues.

Firstly

,

such

assistance always comes with strings attached.

For instance

, in return for money

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,

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the developing

countries

are often required to provide easy access to their markets. An open market policy often provides choices only to the

the

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high income

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high-income

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groups which can afford foreign-made products, thereby exacerbating the disadvantage of the poor people of that

country

.

Secondly

, utilisation of the monetary benefits plays a major role in the repayment ability of a nation. Let me explain

this

further

. Investments in capital intensive industries,

such

as infrastructure, only give returns over a decade later.

Therefore

, repayment of the loans given by the richer

countries

cannot be made from returns from the sector where the money has been used, and the borrowing

country

goes

further

into debt.

This

is quite typical of a

country

like India. Other ways of helping

lower income

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countries

include sharing technological know-how and investing in research and skill development in core sectors of that

country

. More often than not, there is a lack of political will to help other

countries

in

this

meaningful manner.

However

,

this

is the most effective way of generating employment within a

country

and

consequently

alleviating poverty. To sum up,

e

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an

the

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xtension of solely monetary assistance has limited benefits, whereas

e

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the

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xchange of technology and equipping the people of that

country

with the means to survive on their own can have a greater impact in improving the standard of living.