FOREIGN POLICY

The International Finance Corporation (IFC), an organization supposedly devoted to financing poverty elimination had supported the building of a luxury 5-Star hotels in Ghana, Egypt and several other poor nations. The construction creates jobs as does the operation of the hotel, but critics complain that the impact on poverty is small compared to the size of the investment. The fancy hotels are too expensive for the local small businessmen and women to use in their commercial development. The elites and the AID givers and NGOs of course have better—and more expensive—accommodations.

The International Finance Corporation (IFC), an organization supposedly devoted to financing poverty elimination had supported the building of a luxury 5-Star hotels in Ghana, Egypt and several other poor nations. The construction creates jobs as does the operation of the hotel, but critics complain that the impact on poverty is small compared to the size of the investment. The fancy hotels are too expensive for the local small businessmen and women to use in their commercial development. The elites and the AID givers and NGOs of course have better—and more expensive—accommodations.