Demands of expanding populations and development planning

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The global human population is currently over 6.6 billion and is projected to grow by 80 million annually, primarily in less developed nations. By 2025, estimates suggest the population will reach 7.9 billion, stabilizing around 9.2 billion by 2050. In response, governments are working to attract various industries to boost their economies and address social and political challenges exacerbated by population growth. International organizations like the World Bank and the International Finance Corporation support these initiatives by providing funding for economic and social improvement programs in developing countries. Well-planned projects can drive economic growth and generate wealth, which in turn can enhance health, education, and employment opportunities for the population. Various theories of economic development exist, with Malizia and Feser (1999) summarizing their dynamics, strengths, and weaknesses. Despite differing perspectives, these theories converge on the principle that economic advancement relies on investing capital in sustainable projects that yield long-term financial gains.