Least developed countries: the causes of backwardness and ways to solve problems

Abstract

Poor or «least developed countries» of the world – one of the most important problems of development of modern world economy. This officially recognized UN category of the countries has a number of fundamental signs according to which they provide financial, technical and humanitarian aid from the international organizations. The article examines the socio-economic characteristics of the least developed countries, the reasons for their backwardness, the close interdependence of these reasons, the problems in the organization providing them with official development assistance. Currently, there are a number of programs and projects for the organization of official development assistance to least developed countries. However, the size and efficiency of this assistance is not sufficient. The authors propose a mechanism to change the organization of the assistance, in particular to finance the construction of social facilities and infrastructure in the least developed countries directly, through the organization of tenders for private companies.