Thirty eight years ago, the United Nations estimated that 0.7% of each developed nation's gross national income would be sufficient for aiding the poorest of the world's nations. For emphasis, that is less than 1 penny on a dollar.
I send my warmest blessings to the following nations, who meet or exceed this amount: Norway, Sweden, Luxembourg, Denmark, and the Netherlands.
(In contrast, the United States is tied for last place at 0.16%, although (thankfully) individual Americans are more generous.)
What was to be the form of that aid? According to the United Nations, it is to, "make loans tied to particular sources available for use by the recipient countries for the purpose of buying goods and services from other developing countries... Financial and technical assistance should be aimed exclusively at promoting the economic and social progress of developing countries and should not in any way be used by the developed countries to the detriment of the national sovereignty of recipient countries."
In other words, the assistance was to be low cost loans, with no strings and no interference. Pretty basic ideas.
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