Foreign Assistance and Economic Development

Programmes of public assistance to less developed countries have increased rapidly over the past decade in the United States and Western Europe. Since private investment has stagnated during this period, public grants and loans now provide over $6 billion of the total of about $9 billion of capital transferred. For most underdeveloped countries, foreign assistance is already a critical source of development finance and one of the main hopes for accelerated growth in the future.

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