The administration of US President Donald Trump aims to abandon the traditional approach of providing development aid to foreign countries funded by public resources, instead focusing on attracting private investments and signing trade deals, according to Fox News.
According to the channel, US authorities support the approach that the main driving force of US foreign aid development should be private investments, trade, and American business, rather than taxpayer-funded financing.
“For years, the US and other countries have directed billions of dollars to these aid programs, but have received very little in return,” said Mike Waltz, the US permanent representative to the UN, to Fox News.
He stated that when participating in various UN conferences and meetings of global development organizations, one can see representatives of NGOs, academic circles, and governments, but the private sector, which actually drives economic growth and creates jobs, is often absent.
On February 3, 2025, the Washington administration effectively halted the activities of the US Agency for International Development (USAID). The agency has long been used as a tool for implementing US foreign policy and exerting influence in other countries.
On March 10 of last year, US Secretary of State Marco Rubio, who temporarily headed USAID, announced that after conducted audits, the government had suspended 83% of the agency's programs.
