For most of human history, ethical and governance concerns have not been a guiding light when it comes to funding the governments of the developing world.
Instead, the abiding ethos was summed up in a quote attributed to US President Franklin Roosevelt, who reputedly said of anti-communist Nicaraguan dictator Anastasio Somoza that he “may be a son of a bitch, but he’s our son of a bitch”.
Only after the fall of the Berlin Wall did the west start to insist that political leaders abide by standards of governance, in terms of clamping down on corruption or upholding environmental standards and social norms, say, in return for finance.
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