“Foreign Aid” — is it a blessing or a curse?
In the short-run, foreign aid is a blessing; but in the long-run if not properly utilized then it is a curse. Although, developing countries needed funds for a boost in their economic and developmental work, but a prolong dependency over foreign support would serve as an abuse. They may become static in their efforts for self-reliance. In addition, whatever the funding by the so-called developed countries, the fact is that the funds are always have some hidden terms and conditions; for example, the aid-giving country may ask for its political support in international fora or it may be a tactic to indirectly influencing the domestic policies of the aid-receiving country into its favor. Besides, the organizational efficiency of the aid-receiving country plays a crucial role in aid utilization. As corruption and red-tapism are the main hurdles in the proper distribution and monitoring of the benefits of aid. However, in cases of natural catastrophes, even the developed countries are not self-sufficient; they may require material as well as non-material support sometimes provided by developing countries. Foreign aid in emergency scenario is a blessing for the developing countries. For instance, the relief provided by international community for the October 8, 2005, earthquake victims in Pakistan has alleviated the sufferings of the people to some extent. Nevertheless, news occasionally appears regarding mismanagement and corruption in part of the government. Hence, foreign aid, although laden with hidden agenda, is a blessing until or unless the receiving country utilizes it in a well-organized and professional manner. Otherwise, foreign aid would be a curse. (258 words)