The "aid" is a political gimmick.
The money goes to corruptors in poor countries further impoverishing the poor country. Then the poor people will have huge debt they never use or enjoy.
As the rich country? Well, the money often come with terms favorable to political donators. For example, US president once offered Sukarno that US will build all the road in Indonesia if Indonesia only import american car. That's effectively US government taxing you to pay GM. GM then pay politicians.
However, imagine if it's not so. Maybe Indonesia have fallen to communists. When there are too many commies, you would have lost cold war and become commies too. It's complicated.
Another sample how power ubber wealth