Human Capital, Health Care, and Lending Instituations

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Globally, developed countries face different problems that have a negative effect on the lives of people. Thus, in order to ensure that they undergo social, economic and political growth, these nations need financial assistance from foreign lending institutions. Kenya, a developing country in Africa, is one of the nations that has gained greatly from foreign lending institutions’ financial support (Hanushek, 2013). International lending institutions assist developing countries in experiencing economic, social and political growth. International lending institutions, for instance, World Bank has continuously offered financial assistance to Kenya to ensure that the country develops socially, economically and politically. Kenya is faced with various social, economic and political challenges that prompted the intervention of World Bank to ensure that the country makes development milestone. Through the financial aids from the World Bank, the country has experienced infrastructural development that has positively impacted on the social well-being of the citizens of the country (Naudé, 2010). Additionally, the support from the World Bank has equally promoted the economic growth of the country. Following the current economic growth in Kenya, citizens have raised their standards of living significantly. Even though there is still a significant disparity between the rich and the poor in the country, the economy of the nation has improved as compared to when the nation had not received financial assistance from the World Bank (Stern, 2010). Also, the country has developed politically as World Bank provides funds for organizing various forums where citizens are educated on various political issues for instance the need to elect good leaders and participate in elections. The financial support received also ensures that the health standards of the citizens are improved. Citizens can seek quality medical care at a reduced cost.

Arguably, a healthy population strengthens the economy of a country. Notably, the economy of Kenya has been enhanced following the healthy nature of the population. Funds obtained from international lending institutions has been used to reduce the prevalence of various diseases for instance HIV/AIDS that affected people preventing them from working hard to strengthen the economy. The healthy population in Kenya has enabled people to work hard and produce various commodities that are locally and internationally sold to strengthen the country’s economy. Additionally, reduction of the prevalence of various diseases has enabled citizens to report to their respective places of work that has facilitated economic growth. The healthy nature of the Kenyan population has ensured that most people get employment opportunities and has resulted in improvement of living standards (Pearce et al. 2013). This has in turn increased the purchasing power of the citizens leading to the strengthening of the Kenyan economy. Likewise, the healthy population of Kenya has equally enabled the government to spend fewer resources in health facilities as the prevalence of most of the diseases that initially affected the people has been reduced resulting in the country’s economic strengthening.

The leadership of Kenya has ensured that the foreign aid is effectively utilized to improve the health care system. The government strives to use the foreign aid in purchasing various medical equipment required by the health facilities (McKinnon, 2010). Currently, most hospitals in the country have different machines needed to treat patients effectively. Additionally, the government has equally ensured that the living standards of health professionals are improved to ensure that they provide quality healthcare services to the patients. The Kenyan government also uses the foreign aid in providing quality training to health professionals to ensure that they offer efficient services to the patients.

In most of the developing countries, foreign aids ensure that citizens receive various quality services that impact positively on their lives. The government of Kenya strives to minimize corruption levels to ensure that the foreign aid is utilized efficiently for various projects that can reform lives of the citizens. In Kenya, the positive impact of foreign aid is felt as there is social, economic and political development in the country.

References

Hanushek, E. A. (2013). Economic growth in developing countries: The role of human capital. Economics of Education Review, 37, 204-212.

McKinnon, R. I. (2010). Money and capital in economic development. Brookings Institution Press.

Naudé, W. (2010). Entrepreneurship, developing countries, and development economics: new approaches and insights. Small business economics, 34(1), 1-12.

Pearce, D., Barbier, E., & Markandya, A. (2013). Sustainable development: economics and environment in the Third World. Routledge.

Stern, V. (2010). The stern review. Government Equalities Office, Home Office.

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