What are the different forms of aid given by more economically :: Economics

What are the different forms of aid given by more economically developed countries (MEDCs) to less economically developed countries (LEDCs)? Explain how useful the aid is and evaluate why some aid is more successful than other aid. What are the different forms of aid given by more economically developed countries (MEDCs) to less economically developed countries (LEDCs)? Explain how useful the aid is and evaluate why some aid is more successful than other aid. Hafiza Bhabha 11 JT =================== Aid many less developed countries (LEDCs) rely on aid. In the Oxford dictionary aid is defined as, --------------------------------------------------------------------- "Something that helps, money, food, etc. ---------------------------------------- Sent to another country to help it" ------------------------------------ Aid is not only given by countries (governments) but is also given by organisations which help a certain place or fund a certain project, such as Oxfam who helps those children in Africa. The real purpose of giving aid is to help those countries that need to develop their economy so that they can improve their standard of living and quality of living. At times giving and receiving aid is complex, as it may not benefit the country, as it could be unsuccessful. Many developing countries need aid because they may have large and increasing trade debts, unfortunately they need to borrow money from MEDCs, however, sometimes by doing this, they fall into bigger, more dangerous debts. Other issues such as earthquakes, volcanoes, etc, also lead countries to borrow more money. This aid is usually only needed for a short period of time. Short-term aid is aid, which is given immediately and is only needed for a small amount of time. This is used with natural disasters and wars etc. Long-term aid is also a different type of giving. This is more useful to a developing country as there is always money, technology and other aid coming in. The aim of this coursework is to investigate what the different types of aids are and also whether they are successful or unsuccessful. In this coursework I have used secondary information. This is basically information that has already been collected. I have researched a lot from the town library, school library, magazines, Internet and many school textbooks. There are three main categories of aid, which is given by MEDCs to LEDCs and they are: Bilateral Aid This aid is between two different countries. "Help is 'given' directly by a rich 'donor' country to the 'recipient' country" (The New Wider World- School Textbook) the reason why the word given is in quotation marks s simply because there are usually conditions attached to the aid, such as the country may not allow the other country to trade with anyone else.