Many developing countries require aid from international organizations to grow. Many people think that this aid should be financial, while others believe practical aid and advice are more useful. Discuss both views, and give your own opinion
In the 21st century, For any country across the world to do economic growth, huge capital and skilled manpower are necessary. It is debatable arguments that some advocate to take help in terms of money while others argue that it should be in terms of suggestion and support. In the below paragraphs, both views are discussed.
On the one hand, It is believed that borrowing a load from other countries or organizations are useful. Because, from that borrowed money, good infrastructure projects can be started, so it is beneficial not only in generating jobs but also creating the source of income. For example, Recently, India has taken a loan from japan of 1 billion dollars to initiate the bullet train project, which will result in the future definitely helpful to enhance jobs and the economy. Therefore, Borrowing a load is fruitful for the nation.
On the other hand, It is discussed that help should be in terms of suggestion and support. Sometimes countries like India already has a pool of skilled manpower. In such circumstances, only external guidance would be enough to do economic development. For instance, Russia had helped India in the 2000s to invent its supersonic missile called Brahmos via technology transfer agreement and scientific support. Consequently, India has now been able to sell this missile to other countries. Hence, this type of help should be rational for the strategic development of the countries.
In conclusion, Both lending money and moral support should be vital for any nation. But, In my opinion, only moral advice and assist are essential because sometimes borrowing too much money can cause problems like the debt trap which are currently faced by Sri Lanka and Pakistan from China.
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