Bill Clinton Quotes
The typical American-funded [foreign aid] project has American contractors who take, between overheads back home and in-the-area administrative fees, 35 to 50 percent. It used to be, by the way, that every developed country did this, but America is about the only one still doing it. And I’ve been trying to break it for a long time …. I hope I don’t have to be buried knowing that we’re still the only rich country in the world that gives this … percentage of foreign-aid money to our own people.
In many cases the American contractors hire locals in the recipient country and so a large part of the contractor’s funds actually go to the country. One virtue of this is that in many countries where the money is given to government or a local organization, there is a great deal of corruption and favoritism. Clinton is right that there is an additional cost where the American contractor takes a profit and an overhead, but very often this “waste” is far less than the waste produced by the recipient government itself or a local organization. The worst of both worlds exists when the American contractor succumbs to local pressures and government “suggestions” and does not buy from the low bidder or gives jobs to people who are not as competent as others or often not competent at all.
William Clinton, 42nd President of the United States (Democrat, AR), Interview, The Atlantic, October 2014
Sourced by: Eigen's Political and Historical Quotations
William Jefferson "Bill" Clinton is an American politician who was the 42nd President of the United States from 1993 to 2001. Clinton was previously Governor of Arkansas from 1979 to 1981 and 1983 to 1992, and the Arkansas Attorney General from 1977 to 1979. Clinton was born William Jefferson Blythe III – he changed to his stepfather's name at age 15.