In present days, developed countris of the world are trying to irredicate poverty of rest of the world by providing financial support but the result is not as fruitful as they have expected. Underdeveloped and developing countrires are still facing large scale of povertry despite the effort. So I think rich countries should not only support poorer countries through financial support but also help them by means for example by providing training to the poorer counties labor force and directly investing on the industries of those countries.
First of all, helping poor contires with money can reduce povery only if the support is used in an approprate way. But most of the poor countires experience corruption which is one of the major reasons behind their poor condition. Without proper monitoring of how this money is being used, this support is nothing but a waste of money. In most cases powerful corrupt people use the money for their personal benifit, whereas the financial aid was given to improve the condition of whole countury and especially those who actually needed it. So inorder to improve lives of the citizens of the poor country, aid providers should also monitor the usage of the aid, either the authority is using it properly or not.
Though financial support is necessary, it does not ensure reduction of poverty. Financial support should be complemented by other means. For example investment of foreign developed countries in the private sector will help to improve the oveall economy poor countries. This investiment will not only develop the economic condition of poor country but the the investors will also be able to get profit from it. For instance, foreign direct investment by diffent countries in Bangadladesh’s automobile industry has helped to set up different factories. Unemployed people are getting a job in those factories and hance have imporved the overall living condition of our country.
In conclusion I think financial aid is one of the elements to solve the challenging issue of poverty but not the only one. To minimize this critical problem other thypes of help is necessary which would complement the financial aid.
