The Fourth UNLDC Conference (UNLDC-IV) in Istanbul: Exploring Ideas for Augmenting Foreign Aid Flows

Since 1981, the United Nations (UN) has been holding special conferences on the least developed countries (LDCs). The Fourth UN Conference on LDCs (UNLDC-IV) is scheduled to take place in Istanbul from 30 May to 3 June, 2011. The overarching objective of this paper is to raise awareness in view of the upcoming UNLDC-IV by suggesting ideas for augmenting foreign aid flows to the least developed regions in the world. It emphasises on preparing aid management policies (AMP) in order to improve aid flows both in quantitative and qualitative terms. The paper argues that increase of foreign aid is necessary if LDCs are to remain competitive and continue using international trade as a tool for promoting economic growth and socioeconomic development.