Flow Of Funds From Richer To Poorer Nations, A Need Of The Hour

562 words - 3 pages

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 ...view middle of the document...

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 proper manner. Many developing countries have got very rich under ground resources but they don’t have adequate technology to exploit them. This demands a transfer of technology from richer to poorer nations so that these resources could be utilized for the well being of their people.
Promotion of peace, adequate solution to conflicts and aversion of war among developing nations can be very efficacious steps towards financial independence and hence prosperity of these nations. But the leaders of some richer nations try to control the reigns of poorer nations’ governments due to presence of these corrupt elements. Some leaders of developed countries try to establish governments in the poorer countries in such a way that their own interest could be served in a best manner. Some try to connect provision of development funds with fulfillment of their own vicious interest.
If we really want to have a peaceful and prosper world then richer countries have to help poorer countries to get them walk along a parallel path. Here we have to take a revolutionary step to eradicate corruption in the developing countries so that funds provided, could be utilized for the intended purposes. Another indispensable step in this direction would be aversion of war. In order to fulfill the above mentioned steps a hand of fair deal should be extended from the leaders of developed countries.

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