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Flow of Funds from Richer to Poorer Nations, a Need of the Hour

  • Date Submitted: 07/16/2011 09:35 PM
  • Flesch-Kincaid Score: 42.3 
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Should wealthy nations be required to share their wealth among poorer nations by providing such things as food and education? Or is it the responsibility of the governments of poorer nations to look after their citizens themselves?

In this rapidly changing world, the development of poorer nations has been stymied by various factors and causes. Do the poorer nations need financial and technical aid from developed nations? Yes, that’s why at the time of tabulation of United Nations charter, relevant monitory bodies like IMF and World Bank were established to provide funds for the development of developing nations. This as a matter of fact was a realization by the developed countries that the poorer nations need their help.
Accordingly the aid was provided in the past in its various forms and manifestations to the needy nations but the historical record show discrepancies in the very usage of these funds. Nevertheless corruption is one of the major factors which is deep rooted among the top management positions of these nations. The problem of corruption should be tackled quite sensibly and hence eradicated effectively.
As richer nations have gone well advance in both education as well as in the health sector, hence they can find effective ways and means to bring improvement in both of these sectors of developing nations. Provision of lab equipments in the colleges and universities, exchange of study tours, technological advance equipments for treatment of various kind of fatal diseases, life saving drugs, provision of food to the territories where famine and starvation prevails can be few of the various possible ways to help poorer nations.
In most of the developing nations, agriculture sector is backbone of their economy, so provision of agriculture related machinery (like modern ploughing and threshing machines and agriculture seeds) can put them on the path of progress. With the provision of horticulture technology they can really set their road map in a...


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