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Development Gap (how is it reduced? (Investment (Large companies can…
Development Gap
how is it reduced?
Investment
Large companies can locate part of their business in other countries. This helps a country to develop as the companies build factories, lay roads and install internet cables.
Aid
Aid is when one or more countries give money to other countries. The money has to be spent on things that will benefit the population.
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Dept Relief
Many LICs owe money to other countries. Often the repayments and interest are so expensive that indebted countries have no money left to spend on development projects. Debt relief is when debts are either reorganised to make them more manageable, or reduced.
Microfinance Loans
Microfinance loans are when money is lent to LICs to help them to develop. These are often small loans with reasonable interest rates. They are available to people and businesses who may normally struggle to get credit.
Fairtrade
Fairtrade is paying producers a reasonable price for the goods that they produce. Many farmers in LICs are paid very low wages. This means that they cannot escape poverty. Fairtrade gives farmers a better chance in life.
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case studies
Nigeria
Oil (shell)
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shell, the main provider of oil, is seen as a second government, as they hold so much political and economic power
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