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Fact-sheet - Expeditionary Economics Feb 2012

Fact-sheet - Expeditionary Economics Feb 2012

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Entrepreneurship is one way to rethink the American system of aid. Local businesses can grow and develop their own economy; they usually just need help removing barriers to growth. By refocusing on the support of local entrepreneurship, U.S. foreign aid can be made more efficient and more effective in fixing broken economies.
Entrepreneurship is one way to rethink the American system of aid. Local businesses can grow and develop their own economy; they usually just need help removing barriers to growth. By refocusing on the support of local entrepreneurship, U.S. foreign aid can be made more efficient and more effective in fixing broken economies.

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Published by: The American Security Project on Feb 14, 2012
Copyright:Attribution Non-commercial

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www.AmericanSecurityProject.org1100 New York Avenue, NW Suite 710W Washington, DC
Expeditionary Economics
By Kelvin LumFebruary 16, 2012
“Aid has failed to deliver the promise of sustainable economic growth and poverty reduction.” 
Dambisi Moyo
 
1
•eU.S.spent$38billiondollarsonaidin2010,andisthelargestsingleaiddonor.
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•ereare21U.S.governmentagenciesresponsiblefordeliveringaid,rangingfromtheDepartmentofStateandUSAIDtotheDepartmentsoftheInteriorandTransportation.•However,theU.S.isratedatpoorlyforeciencyandimprovinglocalinstitutions:
 
oAWorldBankrankingsystemputstheUSamongthelowestinforeignaidquality.
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oA2005GAOreportstatedthatonly1/3ofUSfederalfoodaidmoneyisspentonactuallybuyingfoodwhiletherestisspentonadministrativecosts.
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oConsequently,stepshavebeentakentoimprovethis:theMillenniumChallengeCorporationscoressignicantlyhigherthanitsUScounterpartsontheserankings.
5
Worldwide,aideectivenessispoor:from2005-2011,only1in12oftheParisDeclarationeectivenessmeasureshadbeenmet.
6
Despite the large amounts o money that the US is spending, it is not being used efciently nor is it promoting growth and security.

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