Foreign Aid Is Being Cut, But Business Will Keep Fighting Poverty

It’s easy to feel discouraged these days about international development. The new US administration has proposed cutting the foreign aid budget by nearly a third and eliminating certain programmes. Even if the US Congress manages to salvage some of these funds, the fight against global poverty seems at risk of losing momentum. But it’s worth remembering that there is another force out there that could maintain, and even increase, progress against poverty: business. In the past 10 years, private sector investment to developing countries has been growing faster than foreign aid. Indeed, developing countries now receive 27% more foreign business investment than development aid – a trend likely to grow over time. Read more here.

Source: The Guardian