Photo: © AP
It could have been taken from a play. During a session at the World Economic Forum in Davos (Switzerland), Christine Lagarde, director of the International Monetary Fund, rose her bag and said: "I am here, with my little bag, to collect a bit of money". She was insisting that the IMF is a "safe bet" and that increasing the size of the IMF's resources would help improve confidence in the global financial system. The crisis in Europe was the perfect background for this year's World Economic Forum (that has concluded yesterday), but is there place for aid to development in such an economic climate?
The WEF is a good opportunity to establish new partnerships to improve global health. Klaus Schwab, WEF founder, agrees that there is a need to create a "new collaborative power" in order to increase opportunity and prosperity around the globe. As we know, health has a huge economic impact. In the developing world, the lack of health has devastating consequences, resulting in limited economic growth and prosperity. There is a lot to be done on this score, namely through partnerships between the private and public sectors. Simple investments today will have long-term benefits and will make all the difference for those who live in poor countries.
Having this in mind, Bill Gates, co-chair of the Bill and Melinda Gates Foundation, called for continued aid investment in the developing world despite the unfavourable global econcomic climate. In his fourth annual letter, Gates highlighted the negative impact of food price rises and enlarged on his belief that innovative strategies on agriculture and health – areas he believes are closely interrelated – hold the key to development's future. In Davos, Gates said: "These are tough economic times but that is no excuse for cutting aid to the world's poorest. The Global Fund is one of the most effective ways we invest our money every year". Gates has pledged 750 million USD to the troubled Global Fund and called on governments around the world not to let the economic crisis affect their commitment to the life-saving fund.
Those are important words in such a relevant gathering of world leaders. However, more has to be done to highlight the need for more and more steady investment in the developing world. The burden of diseases such as AIDS, malaria or tuberculosis is just one part of the story. Of course funding for diagnosis and treatment is crucial. But let's not forget that those countries need serious investment in agriculture, education and health facilities in order to walk the road to development. The gap dividing rich and poor countries has huge costs and cannot depend on the global economic agenda to be seriously approached. It's time to think ahead!
The WEF is a good opportunity to establish new partnerships to improve global health. Klaus Schwab, WEF founder, agrees that there is a need to create a "new collaborative power" in order to increase opportunity and prosperity around the globe. As we know, health has a huge economic impact. In the developing world, the lack of health has devastating consequences, resulting in limited economic growth and prosperity. There is a lot to be done on this score, namely through partnerships between the private and public sectors. Simple investments today will have long-term benefits and will make all the difference for those who live in poor countries.
Having this in mind, Bill Gates, co-chair of the Bill and Melinda Gates Foundation, called for continued aid investment in the developing world despite the unfavourable global econcomic climate. In his fourth annual letter, Gates highlighted the negative impact of food price rises and enlarged on his belief that innovative strategies on agriculture and health – areas he believes are closely interrelated – hold the key to development's future. In Davos, Gates said: "These are tough economic times but that is no excuse for cutting aid to the world's poorest. The Global Fund is one of the most effective ways we invest our money every year". Gates has pledged 750 million USD to the troubled Global Fund and called on governments around the world not to let the economic crisis affect their commitment to the life-saving fund.
Those are important words in such a relevant gathering of world leaders. However, more has to be done to highlight the need for more and more steady investment in the developing world. The burden of diseases such as AIDS, malaria or tuberculosis is just one part of the story. Of course funding for diagnosis and treatment is crucial. But let's not forget that those countries need serious investment in agriculture, education and health facilities in order to walk the road to development. The gap dividing rich and poor countries has huge costs and cannot depend on the global economic agenda to be seriously approached. It's time to think ahead!
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