• Corpus ID: 133172997

Relevance of Development Assistance to the Economy and Its Impact after Sri Lanka’s Elevation to Upper Middle Income Status

@inproceedings{Fernando2016RelevanceOD,
  title={Relevance of Development Assistance to the Economy and Its Impact after Sri Lanka’s Elevation to Upper Middle Income Status},
  author={H. S. D. Fernando},
  year={2016}
}
Development assistance can be defined inter alia as foreign aid, foreign loans, and grants. The flow of development assistance is essential to most developing countries. Development assistance began shortly after World War II, with the primary goal of spurring the economic growth of countries. For example, five of the World Bank’s first six loans were given to the Western European countries. At first, development assistance was largely confined to raising aggregate national income. But over the… 

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