Financial foreign assistance is one of the most powerful ways that developed nations can help lower-income countries fight their way through poverty. It also provides the most immediate results, given that aid investment is effectively distributed both to short-term direct programs as well as long-term indirect programs. Many in aid-giving communities, including the United States, criticize foreign aid spending because they believe it a wasteful investment, used to line administrator’s pockets or be lackadaisically distributed to corrupt governments.
Futuregov estimates that annually, around $150b is contributed globally to aid and assist socio-economic and social development.
Given the global community’s demands for greater accountability and transparency in funding, the AidData Centre for Development Policy organization was established. The organization is “a joint venture between the College of William & Mary, Development Gateway, Brigham Young University, the University of Texas at Austin, and Esri.” AidData will be funded $25 million over five years in its conjoined efforts with the United States Agency for International Development.
The program will combine the work of experts in a menagerie of different fields to track and make public the effects of specific foreign aid projects. The purpose of the program assessments is also self-reflective, as programs become more stringently criticized. The aim is to have less money spent will have efficiently maximized impacts.
– Nina Narang