Foreign aid is a temporary method to help challenged countries, but will not be the long-term solution for development
The ‘all of the above’ energy strategy will be discussed with the board in June
It's unclear how much the U.S. or some European countries will contribute to the International Development Association
The World Bank is an international financial institution that provides loans, grants, and technical expertise to developing countries with the goal of reducing poverty and promoting sustainable economic development.
However, there have been ongoing political discussions about potentially restructuring or reducing the scope of USAID. Some proposals have included:
Cutting its budget significantly
But none of these proposals have resulted in the agency being shut down.
Fund global health, food security, and humanitarian relief programs
Collaborate with partners like the World Bank, UN agencies, and NGOs
Nevertheless, there has been criticism from the Trump administration of mismanagagement and corruption which puts it in the crosshairs for cutting. Plus Trump is in general, not very supportive of efforts outside the US borders.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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