Official Aid to Developing Countries
The Development Assistance Committee (DAC) of the OECD very properly uses the term ‘flow of financial resources’ to describe what is loosely called aid. Much of these flows are closer to normal commercial transactions than to the gift without strings which common sense would recognise as true aid. Clearly this applies to private capital flows, commercial transactions in which the investor expects directly or indirectly to make a profit. They are more akin to international trade, from which all hope to benefit, than to assistance, in which one side may be expected to make some financial sacrifice in order to benefit another.
KeywordsRich Country Domestic Saving Official Development Assistance Development Assistance Committee Multilateral Agency
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