Foreign Aid: US Least Generous of Rich Countries

via www.huffingtonpost.com

By OBERT MADONDO

In his 2010 Annual Letter Bill Gates makes the following observation about foreign aid from rich to poor countries:

"The global recession hit hard in 2009 and is a huge setback. The neediest suffer the most in a downturn."

So why is the wealthiest country in the world, the United States, the least generous? The US places last on the list of 22 rich, foreign aid-giving countries. Sweden tops the list, followed by Norway, Denmark, the Netherlands and Luxembourg.

Admittedly, foreign aid has not always lifted poor countries out of poverty. In some cases it has earned a bad reputation for increasing corruption and dependency in the recipient countries.

But, when used properly, foreign aid works. When foreign aid yields real development, we all benefit as the need for foreign aid decreases.