Economic Development

Economic Development is the development of wealth in Countries, Communities or Regions for the well-being of their inhabitants. It can also be described as a way to seek an improvement in the quality of life for the community. Many Communities, Countries and Regions promote economic development through policies which improves their standard of living. In my opinion the main ways to promote economic development are gender equality, to fight against poverty, to raise the standard of education and investment in infrastructure.

The UN has devoted it’s time to promote living standards and human skills throughout the world. The UN Development Programme supports projects to reduce poverty, promote good governance, address crisis and preserve the environment. According to the (UN News Centre, 2014), “ The United Nations Development agency launched an initiative to promote peace building and social cohesion among the Central African Republic communities, also urging donors to fill a gap of $22 million to ensure the project meets objectives”. This UN Programme has huge interest in the well-being of women, as insisted by the (UN News Centre, 2014), “It would also help the earning potential of marginalised groups such as women through vocational training and connect them with local administrators to help strengthen their decision-making”. This will allow women to have the same opportunities as men with regards to future needs and wants.

Poverty is one of the main problems in the world today. Although it is seen by throughout the world, it is still a problem to tackle. Some of the world’s poorest countries have made impressive gains in the fight against poverty, however many developing countries still struggle trying to improve their standa...

... middle of paper ...

...nd exporting of goods and services in these developing countries. (Economic Focus) argues that “countries with the lowest transport costs are more open to foreign trade and therefore are more likely to enjoy faster growth.” As a result of improving their roads this allows the freedom of goods and services to become more accessible and therefore trade becomes easier. This investment boom was received from the (IFC) The International Financial Corporation.

In conclusion I have discussed the major ways how to economic development in developing countries which are gender equality, fighting against poverty, raising the standard of education and lastly investment in infrastructure. All of these ways to promote economic development can be seen in developing countries and if these problems are tackled then the living standards of these developing countries will be raised.