No, development aid is not beneficial to developing and poor countries, because too much aid allows the countries to become dependent. Rather, the nations need to develop private property rights, and their own economic systems. That way, their development will be sustainable on its own, without constant intervention from other nations.
It's a matter of fact that most development aid to Third World countries simply ends up in the pockets of corrupt local officials, very rarely trickling down to the people who need it most. There is no need for rich countries to keep offering development aid when it's not being used to develop, and it's impossible to insist on standards or metrics to measure their progress. Let's keep our money within our borders and wage a war on our own poverty issues instead.