PROJECT VERSUS PROGRAM AID: FROM THE DONOR'S VIEWPOINT,
Abstract : The object of the paper is to determine considerations that a rational donor should weigh in deciding whether project or program economic assistance is more advantageous. Project aid is defined as assistance whose disbursement is tied to capital investment in a separate productive activity. Program aid is assistance whose disbursement is tied to the recipients' expenditures on a variety of items justified in terms of the total needs and development plan of the country rather than on any particular project. The conclusion is much the same as that of H. W. Singer ('External aid: for plans or projects'. Economical Journal, v. 75, no. 299, Sept. 1965, p. 539-545), that there is something to be said on both sides. However, it may be advisable to pursue a project approach in one case, a program in another, and some combination in still others.