AI: The new face of foreign aid

Nepal’s recently formulated foreign aid mobilisation policy doesn’t recognise AI as the driver of economic development.

For a foreign affairs enthusiast, the topic of foreign aid elicits the plea of American economist and Columbia University professor Jeffrey Sachs, who states the idea of multiplying the aid disbursed to the developing world. The Organisation of Economic Cooperation and Development (OECD) has committed to allocate 0.7 percent of its Gross National Income (GNI) as Official Development Assistance (ODA). But to no avail. Nobel laureate in economics and Columbia University professor , Joseph Stiglitz, in his book The Price of Inequality , doubts it to hover around 0.2 percent on average.