The Biden administration and the Congress rightly went big in the recently passed American Rescue Plan at a time of tremendous need. The package was appropriately focused on the domestic side, but it did not neglect the rest of the world. One might reasonably ask then why $1 billion or $2 billion could not have been included for fighting the poverty, food insecurity, and health crises driven by the pandemic. That would have amounted 0.05 to 0.1 percent of the total package. And it would have been multiplied many times over in additional poverty reduction dollars, because that it was the MDB model does.
CGD Policy Blogs
This week, the Inter-American Development Bank’s governors gather for their annual meeting. Much is at stake as the region reels under the compound crises of COVID-19 and recession. But none of this urgency is yet evident in the IDB’s public case to its member countries.
There is not enough ODA to cope adequately with existing development challenges, and yet it is now being charged with funding a large share of donor country commitments toward global climate finance. We think it should be doubled.
"Through increased policy attention and financial investment, childcare can move from a problem to an opportunity. It is an opportunity to promote gender equality and education, support families, & build communities and new economies. The time for bold action is now."
The Biden Administration May Join the European Union in a Ban on Financing Fossil Fuels with Development Dollars. Poor Countries Must Be Exempt.
Since taking office, the Biden Administration has taken several steps to address the climate crisis and plans to do more on the international stage. This trend will be in line with an earlier move by the European Union to “stop funding oil, gas, and coal projects at the end of 2021, cutting €2bn (£1.7bn) of yearly investments.” But a blanket ban on fossil fuels is likely to stifle economic growth and make poor populations in Africa even more vulnerable to the impacts of climate change.
Comprehensive Primary Health Care for India: Looking at the Cost Implications of Improving Coverage for 1.4 Billion People
In India there is a distinct lack of discussion around the financial and economic implications for transforming over the existing150,000 primary care centres into the new model Health and Wellness Centres. The authors are inspired to try and fill this gap.
Still Neglected and Still Not Gone: The Implications of COVID-19 for the WHO Policy of Elimination of Congenital Syphilis
In many low- and middle-income countries, the COVID-19 pandemic is limiting access to antenatal care and posing considerable challenges to global efforts to eliminate congenital syphilis. A review of the present WHO strategy to eliminate congenital syphilis is urgently needed.
The COVID-19 pandemic has taken a significant toll on African economies. Despite the significant support for COVID-19 response provided by their bilateral and multilateral partners, African countries continue to face significant financing needs to protect lives and livelihood and bolster prospects for a stronger and more resilient economic recovery. In this light, the time for the international community to go big on supporting Africa’s pandemic crisis recovery is now.
As we pas the 2020 deadline for $100 billion a year of climate finance we look at how much climate finance could be “new and additional” as the original commitment envisaged, and how much each country has contributed.
As it looks likely that the IMF membership will approve special drawing rights, not all countries will feel the effects equally. Is there a way that these new “excess” SDRs in rich countries could be used to help poorer countries?