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Public foreign aid has contributed both positively and negatively in the economic and social progress in developing nations. The assistance has enabled these countries to embark on ambitious government projects that have boosted economic growth. According to Yiew and Lau, aid improves not only infrastructure but also energy transport and communications systems in the recipient countries (21). The aid has also helped developing nations during crises such as drought, famine, and floods to cater to those affected people’s needs. They reduce the impact of poverty and contribute to developing strong ties between the giver and the recipient nations.
On the other hand, foreign aid is at times offered as a political tool, which ends up undermining the sovereignty of the nation as leaders are forced to act per the donor’s wishes rather than the good of their citizens. Yiew and Lau note that excessive foreign aid can lead to a negative impact on economic growth as a whole (27). Foreign aid affects price mechanism since the laws of supply and demand are affected by the creation of more supply in resources or money for spending.
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