U.S. Agency for International Development – USAID

Posted in Finance, Accounting and Economics Terms, Total Reads: 347
Advertisements

Definition: U.S. Agency for International Development – USAID

USAID is an independent government agency that provides assistance to other countries to help them recover from disaster, to overcome poverty and engage in democratic reforms. The types of assistance provided by USAID include disaster relief, poverty relief, socio economic development, environment, education training, health and humanitarian assistance.


USAID was established in 1961 by the then President John F. Kennedy. It was formed with a mission to eradicate extreme poverty and to promote resilient and democratic societies while advancing the political and economic interests of the United States. Headquartered in Washington D.C, USAID works in around 100 developing countries across Sub-Saharan Africa, Asia, Middle East, Latin America, and Europe. It partners with private voluntary organizations, foreign governments, international organizations etc. in order to implement programs that include transition initiatives, civilian response programs, conflict management, cooperative development and research (CDR) programs, water, gender equality and women’s empowerment.


In FY2016 the estimated budget of USAID is around $22.3 billion and the funding will be used in the below areas

Areas

Million $

Prevent Child Deaths

2800

Food security and Reduce hunger

978

Climate Change

348.5

Democracy and Human Rights

2400

Promote economic growth in Central America

500

Connect and Empower Africa

133.9

Science & Technology, Innovation

190.5

Rebalance Asia Pacific region

687.5

Assist victims of conflict, natural disaster, forced migration

3100

Food Aid Reform

350

Support on-going operations

1400


USAID has often been criticized for its programs have been used to achieve political goals in countries which are hostile towards US, for providing contracts to inefficient contractors at inflated costs, its money being used for religious activities and renouncing terrorism.


Advertisements



Looking for Similar Definitions & Concepts, Search Business Concepts