Developing nations are countries characterized by low levels of socio-economic development compared to more industrialized or advanced nations. These countries often face challenges such as poverty, inadequate infrastructure, limited access to education and healthcare, political instability, or high levels of inequality.
Related terms
Foreign Aid: Foreign aid refers to financial assistance provided by developed nations or international organizations to support economic development projects in developing countries.
Sustainable Development Goals (SDGs): The SDGs are a set of 17 goals adopted by the United Nations to address global challenges such as poverty, inequality, climate change, and sustainable development in developing nations.
Bilateral Trade Agreements: Bilateral trade agreements are agreements between two nations that aim to promote economic cooperation, reduce trade barriers, and foster development through increased trade and investment.