International aid refers to money, resources, or technical support given by countries, non-governmental organisations (NGOs), or international groups like the World Bank and the International Monetary Fund (IMF) to help developing nations. Its main goals are to boost economic growth, lower poverty levels, and provide help during emergencies.
Key features:
- Can be bilateral (given directly from one country to another) or multilateral (given through international groups).
- Can be in the form of grants (money that does not need to be paid back) or loans (money that must be repaid, usually at low interest).
- Often used for building roads, schools, and hospitals, or providing relief during crises.
- The success of this aid depends on how well the receiving country manages the resources.