To Meet Global Development Needs, Think Outside the Box on Development Financing
September 2, 2010
"A wide range of financial resources that are sustainable, predictable, and additional to the traditional Official Development Aid (ODA) need to be mobilized to meet the global development needs including the [U.N. Millennium Development Goals] MDGs" by 2015, France's Foreign Minister Bernard Kouchner, Japan's Foreign Minister Katsuya Okada and Belgium's Development Cooperation Minister Charles Michel write in a Christian Science Monitor opinion piece that reflects on ongoing efforts to "finance development ... alongside -- and not in place of -- public aid."
The authors reflect on the success of innovative development financing, including "taxes on airline tickets to finance access to essential medicines through UNITAID, ... and bonds secured by government pledges to finance for immunization (GAVI)," as well as efforts made to promote innovative development financing in their respective countries, before calling for the "[d]iscussion on innovative development financing" to be "further extended to the global political arena."
The authors describe the findings of the Taskforce on International Financial Transaction for Development, a group tasked with examining options for development financing, before concluding, "For approaching [the MDGs], we should not be inward-looking. ... We cannot just only rely on the traditional ODA. The real challenge today is designing an innovative mechanism based on strict governance and allocation criteria. It is time to act, and to do it in an exemplary fashion" (8/31).
This article was provided by Henry J. Kaiser Family Foundation. It is a part of the publication Kaiser Daily Global Health Policy Report. Visit the Kaiser Family Foundation's website to find out more about their activities, publications and services.
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