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p. 685. The evolution of development aidlocked

  • Ian Goldin

Abstract

Foreign aid is any kind of official development assistance, concessionary loan, or financial grant given to developing countries mainly for the purpose of economic development or welfare provision. ‘The evolution of development aid’ describes the improved aspects of aid since the end of the Cold War with greater aid effectiveness achieved by targeting poverty reduction efforts more directly. It also outlines the eight Millennium Development Goals and the subsequent seventeen Sustainable Development Goals proposed in 2015; describes the range of development finance institutions and their response to the debt crisis; and explains the higher levels of investment in global public goods that are required to prevent global catastrophes.

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