Poverty is the main problem in underdeveloped countries. To handle this issue, developed countries often allocate funds for poorer countries; however, this issue is not solved yet. A multitude of people believes that rich countries should not support financially, instead provide other kinds of assistance, such as food, scholarships, and technology. From my perspective, financial aid is crucial for these countries, and it must continue, while a portion of the total fund can also be allocated for particular purposes.
Most of the underdeveloped countries exchange markets depend on foreign aid, for example, Pakistan, Afghanistan, and if due to any reason this is cut, their market will immediately crash, and governments have to enhance the prices of daily usages products, forcing citizens to live under the line of the poverty. However, financial support is also the most significant source of kickbacks in these countries, such as in Pakistan, the former prime minister was exposed by Panama leaks. He was declared a convict of taking kickbacks and for money laundering by the supreme court of Pakistan. This is why, when funds are transferred to such countries, it should have a proper check and balance.
On the other hand, to resolve the poverty problem, few people argue that giving money to lesser developed countries is not a wise choice; rather, it opens the gates for money launderers. Developed nations should assist them in another way, for instance, invite talented students on scholarships in high-ranked universities and giving them chances to learn new skills and make sure they return to their countries to serve for a specific period.
In conclusion, rich countries should provide funds to improve the economy of underdeveloped countries and make sure, it is been spent on poor people to improve their lives rather than going in pockets of rich politicians. This method will not only help the poor but will also give us a better world with less poverty, resulting in more population will contribute to make this world a better place for human beings.
