In the system of contemporary international relations, the external financial assistance for development is a relatively recent concept. In order to understand this notion and to assess its impact on public policies in the Republic of Moldova it is essential to approach it in relation to different theoretical perspectives. In this regard, there are three general theories trying to understand the donors’motivation and the principles of external assistance – the realistic paradigm, the liberal paradigm and the radical one. While it can be argued that each paradigm has its strengths and weaknesses, is crucial that the analysis of external assistance for Moldova to be approached from all these perspectives.