Foreign Aid will not Make Poverty History

Alex O. Awiti a fellow at the Earth Institute writes:

Entrepreneurs can catalyse sustainable economic growth by identifying market opportunities and business models that meet the needs of underserved communities in emerging economies. In essence, entrepreneurs can be true allies in poverty alleviation through market solutions, employment and wealth creation as opposed to aid and subsidies. Proponents of foreign aid often think of poverty as a technical problem they can solve using a universal blueprint or Big Plan and huge dollars in financing. If it were that simple poverty would be history. Efforts to alleviate poverty must recognise that poverty is a complex labyrinth of social, institutional, political, historical, geographical and technological factors.