At present, assistance from global organisations is imperative for emergent nations. There is a prevailing belief in some circles that such assistance should be in monetary terms, while others think taking practical suggestions may have better outcomes. Though financial support can have profound consequences, obtaining practical advice could bring more positive outcomes.
Advocates of financial aid have compelling arguments, firstly, progressing nations can invest received money in various fields like education, healthcare, and developing infrastructure to develop their nation. Educational institutes and hospitals can be constructed to eliminate both illiteracy and health issues encountered by the citizens. People will receive job opportunities and adequate medical treatment which will result in stronger economic condition of such nations. For instance, India took a giant amount of loan from the World Bank in early nineties to strengthen the banking sector of the country which brought fruitful results for the entire nation.
On the other hand, there are several reasons why people think practical aid is more crucial. The prime rationale is to become self-reliant as the suggestions received from financially sound organisations could be implemented in the third world nations to uplift their economy. To add, there may be corrupt authorities that might not adequately utilise the funds, and citizens of emerging nations could never obtain access to proper education and medical facilities. To exemplify, people of economically weaker nations like Africa, could not afford having two meals as the financial aid goes in the pockets of corrupt officials.
In conclusion, though financial aid can be of vital importance for emerging nations, becoming self-sufficient by obtaining valuable advice from global organisations could potentially result in better outcomes for both citizens and the economy.