A new foreign aid bill soon to be introduced in the U.S. House of Representatives looks to substitute U.S. development assistance in favor of private investment. But, while the current foreign aid regime is rife with problems, this approach to development has its own issues. Through his experience as chair of the Congressional Caucus for Effective Foreign Assistance, Yoho has insisted that he understands why foreign aid delivers such menial results. Shifting welfare from foreign countries to domestic corporations investing in foreign countries will not change the fundamental problems that impede growth. Yoho’s bill is merely trading direct development assistance for corporate welfare.

Source: Forbes March 28, 2017 19:41 UTC