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Having identified the barriers to economic development, this lesson examines the main strategies that have been proposed and implemented to promote development. These range from foreign aid and trade liberalisation to microfinance and institutional reform. Each strategy has supporters and critics, and no single approach has proven universally effective.
Foreign aid (Official Development Assistance, ODA) is financial or technical assistance provided by governments and international organisations to promote development.
| Type | Description | Example |
|---|---|---|
| Bilateral aid | Government-to-government transfers | UK aid to Ethiopia |
| Multilateral aid | Aid channelled through international organisations | World Bank, IMF, UNDP |
| Tied aid | Aid that must be spent on goods/services from the donor country | (Criticised for reducing value for money) |
| Untied aid | Aid with no conditions on how it is spent | |
| Humanitarian/emergency aid | Short-term relief in response to crises | Earthquake relief, famine assistance |
| Project aid | Funding for specific projects (e.g., building a school, hospital) | |
| Programme aid | Budget support or balance-of-payments support |
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