Foreign aid has become more and more popular after World War II; aiming to support undeveloped countries to accomplish economic growth. It is common for countries that once achieved a development stage to support other countries that haven’t; but aid as an instrument for promoting economic growth has had its difficulties to be effective and efficient. Many types of aid are used to maximize its impact and support among their recipient’s countries, nevertheless intentions from donors or surrounding conditions from recipients has not been the best to do so. Taiwan, who previously was a recipient of aid, has become a donor; it has aimed its support to those countries that not only support Taiwan’s international status but also need to achieve economic growth. Nicaragua is one of the countries who are supported by the ROC government. The main problem when supporting other countries development is evaluating the impact or efficiency with which aid is handed; therefore it is crucial for the donor country, in this case the ROC to estimate the effectiveness and efficiency of their aid. The purpose of this study is to evaluate Taiwan’s ICDF aid to the Nicaraguan society by SWOT analysis. This evaluation is important in order to establish if Taiwan’s aid has been effective or efficient; and for Nicaraguan society to acknowledge if economic growth is being achieved and how. Taiwan’s ICDF has cooperated in the country by promoting not only funding for Nicaraguan government projects but also throughout technical assistance to locals; which aim to improve their productions, auto sustainability and technical skills. This research will prove that indeed Taiwan ICDF has helped Nicaraguan society to accomplish economic growth throughout their projects, and will also provide some suggestions to maximize even more their impact among Nicaraguans. Keywords: Aid, Taiwan ICDF, Projects, Taiwan, ROC, Nicaragua, Bilateral Relations, Economic growth, SWOT analysis.