Stephen P. Groff, a member of IPA's Policy Advisory Board and Vice President of Asian Development Bank, writes a compelling statement on how to approach aid effectively, using Korea as an example:

Teaser:

Aid to Asia is coming under particularly intense scrutiny. Many see the growing affluence and ample state coffers in some Asian nations, and understandably question why the region needs foreign aid. Behind this sparkling veneer, however, is another face of Asia, the more than 1.6 billion people who eke by on less than $2 a day -- less than the price of a small Starbucks latte. Asia's poor desperately need the health, education and other social services that foreign aid brings. For the sake of these 1.6 billion, and to better ensure the stability of the region; it's imperative that aid not be cut.

It is equally essential, however, that we ensure this aid delivers as promised, giving donor nations value for money, and poor families a better life. Good intentions are not enough.

A textbook example of how aid can work effectively can be found in the Republic of Korea, where global development partners are meeting in Busan for the Fourth High Level Forum on Aid Effectiveness. Having leapfrogged from "third world" status to a developed country within the course of a single generation, Korea provides a shining example of a country that made development assistance work.

Read the full article.