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What is the true definition of foreign aid?
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Abdel Rahman Negm IB Economics H2 Commentary Word Count: 737 January 3, 2006 What is the true definition of foreign aid? Economists say that any capital given to an LDC is considered to be foreign aid if (1) It has a noncommercial stand point from the view of the donor and (2) that it is under concessional terms; interest and terms of repayment are less stringent than those of commercial terms. Everything sounds great from the definition- it is capital given to needy LDC's with very low interest rates and long repayment periods. The problem is thought that this is usually never the case. The reality of this situation comes down to the concept of motivation; why would a donor (a DC) give aid to begin with? The answer is very simple; it's in the donor's best political, strategic, or economic self-interest. Basically, an LDC is not going to get free, or very cheap equipment...
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