US President wants new approach to foreign aid
Announcement of Obama to the New US approach for the foreign aids during the UN Millennium Development Goals. Obama said that the foreign aid is welcome but the aid should focus on the capacity biding instead of creating dependency. The poor countries have lack of resources which is necessary for development of the country.
The resources can be gained from the developed country to the developing country to complete the resource gap. Many number of studies have shown that the foreign aid has never filled the objectives of the developing countries. The reason behind this is that the foreign aid is not targeted and utilised properly as it should be used. The lacking of these objectives from the foreign aid can be satisfied only with honesty and objective introspection.
The foreign aid received comes under a complex web and security policy stated Obama during the Summit. The foreign aid is offered by the donors under some conditions which has its own price for the developing nations. Most of the foreign aid is wasted when the developing nation wastes the aid to buy overpriced imports and services. Most of the strategic interests is decided by the choice of the developing nations and not the poverty which exists. Some governments which receive the aid corrupt by doing poor modernising and developing a civilian infrastructure or use it for military.
