Aid is offered from multinational corporations to third-world countries to assist them in accomplishing their development targets. Some assert that monetary aid is more effective, while others argue that benefiting from the practices and advice of worldwide establishments is the key to sustainable development. In my opinion, both are of the utmost importance and can contribute to the prosperity of developing countries in various aspects.
The supporters of financial aid contend that a sufficient state budget is the key factor for finding feasible solutions to municipal problems, enhancing education and health care systems, and upgrading infrastructure, which can be done only with a sufficient amount of money to be invested in these projects. Developing countries are more likely to suffer from budget constraints and often lack the chance of meeting their populations’ needs. For example, African countries such as Nigeria and Somalia are among the most destitute countries, where the annual income of the country is even lower than some of the world’s successful businessmen’s profits, such as Bill Gates’s yearly profit. Therefore, financial help seems undeniably vital for these countries.
However, those who advocate for the magnitude of practical support and advice-giving in addressing the issues in terms of development aspects support the idea that better results can be achieved by sharing cutting-edge technologies, offering educational training and scholarships for brilliant students, and establishing educational partnerships with overseas countries, as well as providing health care support. They argue that investment in education, health care, and other public services is the only true method for enhancing the overall well-being of the population and boosting productivity, thereby inducing the development of the country. To cite an example, AIESEC offers educational training for students from developing countries, bestowing scholarships, and the Red Cross Organization provides health care support and supplies medical equipment to needed countries. Hence, practical aid and advice should be appreciated.
In conclusion, while both aforementioned perspectives are valid, I believe that an integrated approach is essential. Multinational associations can assist developing countries financially, but practical aid and advice are just as important in supporting this effort.