Foreign aid fails to help Least Developed Countries, says UNCTAD 18.11.10

The United Nations Conference on Trade and Development (UNCTAD) has concluded that the assistance extended by developed countries for the economic growth and development of least developed countries (LDCs) has failed to yield concrete results.
The UNCTAD also pointed out that the structural change in the international assistance and aid designed for the economic growth of LDCs is simply mandatory.

The UNCTAD's latest LDC Report 2010, which was launched on Sunday amidst a program held by United Nations in the capital, came up with these findings.

The report comes at a time when economists and other experts are bemoaning that foreign aid is contributing almost nothing to the nation's GDP.

While unveiling the Report, National Planning Commission (NPC) vice-chairman Dr Jagdish Chandra Pokharel, stressed on the need to consolidate the collaboration between the state and private sector for expediting socio-economic development of Nepal.

He also said that development of physical infrastructure, scientific agricultural modus operandi and tourism should be treated as prime basis for the poverty eradication in the country.
nepalnews.com

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