As already
mentioned , the poverty in west Africa
has led to many of the countries
seeking loans from some of the advanced
countries. In many cases these counties have tended to depend mainly on these foregoing loans or
gifts for the financing of their development projects. It is
an age long adage that he who pays the piper dictates the tune and so
the benefactors and not the
beneficiaries often dictate the projects
for which their aid would have
to be utilized . In this case one would
not expect them to finance any project that will seriously compete with their own industries even when
it is clear that such projects are veresentaila in
the country
In many cases
the donor country requires that any loan
granted must be sued in purchasing equipment from her. This restricts the freedom of the recipient country to make
the best bargain in the buying process
not only this, the equipment often given
in the form of loan are of obsolete technology. This definitely does not make for high efficiency in production.
For one thing, in some cases the spare parts are not available since the
manufacturers no longer produce such
equipment . As a result of this most of the
equipment soon become out of use because the spare parts are not available . Because of the
restriction on their freedom to choose
from which country to buy they are often forced to buy even at high prices whereas similar equipment
can be obtained elsewhere at a much
lower price
not only the above,
we have to note also that in some cases
the expected assistance may not be forthcoming . such can easily
thwart national plans as was the case
with Nigeria plan of
1962-1968. Much of the money
needed for the plan execution was to
come from outside sources but to our dismay it
was not forthcoming. This emphasized the need for us to rely on our own
resources for our development
efforts
References
L.C Ezeaku (1997) Positive Discussions in Economic
Uruowulu
Obosi, Pacific College Press Ltd
Black
J. (1997) Oxford Dictionary of Economics
. Oxford : Oxford
University Press.
Report
of the Conference of FAO 4th Session. Washington D.C,
November 1984
A.G Frank, “ The
Development of Underdevelopment”
Development. Hooool comesta??? Critical Concepts in the
Social Sciences (2005)
Underdevelopment
of Countries. World Problems Issue
Online