Introduction: Foreign aid, in the form of official development assistance (ODA) was once seen as

800 WordsApr 23, 20194 Pages
Introduction: Foreign aid, in the form of official development assistance (ODA) was once seen as the panacea for the development and the transformation of the developing countries. In the early phase of de-colonization, after the end of the World War II, newly independent countries were seeking to lead their people out of the poverty and backwardness bequeathed to them by the colonial era. It was seen in some new countries even after a few decades to have reliance on official development assistance. Foreign aid has in different periods of history played an important part in the economic development of many countries, which are now industrially advanced and prosperous are included among them. For instance, the United Kingdom received aid…show more content…
Elsewhere, Riddell has defined aid dependence as, “The process by which the continued provision aid appears to be making no significant contribution to the achievement of self-sustaining development (Riddell, 1996b:40). Finally, Ndulu has said, “One form of aid dependence is related to the concerns with the apparent inability of development assistance over more than two and half decades to provide and impetus for self-sustenance by recipient countries (Ndulu, 1995:1). Research interest: Since 1971, after the independence of the country, foreign aid has been of critical importance for economic development of Bangladesh. In the early years of Bangladesh’s gaining of statehood foreign assistance was mostly geared towards providing relief and rehabilitating of the war affected people. Since mid-1973 external resources have been mobilized for importation food grains and other commodities for financing development projects envisaged under Five-Year Plans (FYP). Besides, being a tropical country, natural disasters in times made Bangladesh more vulnerable to depend on foreign assistance. In recent years, Bangladesh became one of the biggest aid recipient countries of the world, whereas, foreign aids to Bangladesh have officially been categorized under three main heads- Project Aid, Commodity Aid and Food Aid. The overt dependence of Bangladesh’s economy on external assistance has been generally explained by a number of

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