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.

大部分的台灣援助研究討論台灣外交政策，沒有太多的研究是從受援者的觀點探討台灣的發展協助成效。本研究將檢視台灣援助的西班牙語學術論文， 選擇一個個案研究，並從事訪談，以中美洲的觀點來闡述台灣援助的成效。且將分析台灣的 外交援助，特別是財團法人國際合作發展基金會從1998年到2015年在中美洲的策略。本研究質疑由國際社會先前 對台灣在中美洲的金錢外交探索，相反地，本研究將評估儘管中美洲有貪污醜聞，台灣援助在中美洲仍是有利的原因。