BANKING AFFAIRS

Detailed explanation-1: -Countries may provide aid through capital, food, supplies, and services such as humanitarian aid and military assistance.

Detailed explanation-2: -Foreign aid can involve a transfer of financial resources or commodities (e.g., food or military equipment) or technical advice and training. The resources can take the form of grants or concessional credits (e.g., export credits).

Detailed explanation-3: -Broadly speaking, the term “foreign aid” refers to anything that one country gives for the benefit of another country. Usually, this means higher-income countries providing development assistance to lower-and middle-income countries.