The administration of US President Donald Trump wants to move away from the traditional model of providing development assistance to foreign countries using public funds by attracting private investment and concluding trade deals, APA reports citing Fox News.
As the channel points out, American authorities advocate that "private investment, trade, and American business, rather than taxpayer-funded aid, become the primary driver" of US foreign aid development.
"For too many years, the United States and other countries have poured billions of dollars into these aid programs and gotten very little in return," Mike Waltz, the U.S. ambassador to the UN, told Fox News. "When you go to all these forums at the UN and development agencies around the world, the private sector is never there. You have NGOs, academia, and governments, but you don't find the things that drive growth and create jobs."
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