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What is meant by foreign aid? What are its main forms? |
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Answer» In economics, the term ‘foreign aid’ is interpreted in a wider sense. By foreign aid, we mean foreign capital, foreign loans and foreign grants. In other words, the inflow of external assistance in the form of foreign capital, loans and grants by the foreign governments, private individuals, business organizations, foreign banks, international institutions, is termed as foreign aid. Types of Foreign Aid-The main kinds of foreign aid are as follows :
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