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Aid and Development in Africa

  • Simeon K. Koffi
Chapter
Part of the Social Indicators Research Series book series (SINS, volume 71)

Abstract

This chapter sets out the triple objectives for revisiting the strategies for development finance from 1960 to date, making an assessment of funding strategies while emphasizing the relative share of the aid in development finance, finally analyzing the new prospects of development finance which can sometimes be a complement and/or an alternative to the traditional aid mechanism. Mainly intended to give an appreciation of the effects of the aid on the development of Africa, this chapter investigates the relationship between the aid received and the key indicators of the socioeconomic development of states, both qualitatively and quantitatively. In other words, the methodology is based on a critical review of the funding strategies and aid, as well as an analysis of the correlation between aid flows and the indicators. The conclusion which ensues from the analysis show that with regard to the objectives envisaged in the early 1960s, the strategies of development finance, which for the greater part were very extrovert, did not modernize African agriculture nor did they create an industrial environment that allowed Africans to improve their insertion in the international economy. To increase significantly the efforts acknowledged within the framework of aid, it seems essential to strengthen the internal and external mechanisms of development finance in Africa.

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Copyright information

© Springer International Publishing AG 2018

Authors and Affiliations

  1. 1.Economic Community of West African States (ECOWAS)AbujaNigeria

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