Question

What role does capacity building play in the success of Local Economic Development?

• A. It focuses on urban elites for economic progress
• B. It enhances the skills and capabilities of local institutions and individuals to manage development processes
• C. It replaces local businesses with foreign corporations
• D. It discourages local governance and participation

Answer 1

Answer:

B. It enhances the skills and capabilities of local institutions and individuals to manage development processes

Capacity building in LED involves training local leaders, institutions, and entrepreneurs to effectively manage resources, plan for the future, and implement development strategies. This enables local communities to take ownership of their economic development.