|
|
Article: Foreign Aid
- Article from:
- Dictionary of American History
- Author:
CopyrightCOPYRIGHT 2003 The Gale Group Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
FOREIGN AID
FOREIGN AID.
Foreign aid only emerged as a significant and institutionalized aspect of U.S. diplomacy and international relations during the Cold War. After 1945 the United States and the Soviet Union presided over expanding alliance systems and increasingly disbursed large quantities of economic as well as military aid to the developing nations of the emerging Third World. During the Cold War, the International Monetary Fund (IMF), the International Bank for Reconstruction and Development (the World Bank), and the United Nations also played growing roles in distributing foreign aid and promoting economic development. The IMF and the World Bank have been heavily financed ...