International Finance Facility: The Global Marshall Plan?
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Code : ITF0027
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Region : :Global |
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Abstract: More than one billion people (i.e., one sixth of the world's population) live in extreme poverty with lack of water, proper nutrition, basic healthcare and the welfare services needed to survive. This is in spite of the fact that various loans and grants have been extended to alleviate poverty. On September 8th 2000, 152 Heads of State attending the UN's Millennium Summit unanimously adopted Millennium Development Goals (MDGs) taking a collective responsibility to uphold the principles of human dignity, equality and equity at a global level. But the implementation of the goals was hampered due to the shortage of funds. To finance the MDGs, Gordon Brown, the UK's Chancellor of the Exchequer, proposed the setting up of an International Finance Facility, which would aim to increase worldwide aid funding from $50 billion to $100 billion, by issuing bonds that were backed by aid pledges made by donor countries, in the international capital markets. |
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Pedagogical Objectives:
Keywords
Corporate Social Responsibility Case Study UN Millennium Declaration, Heavily Indebted Poor Country (HIPC), Millennium Development Goals (MDGs), International Finance Facility, Poverty alleviation, Official Development Assistance (ODA), Gordon Brown, Marshall Plan, Multilateral agencies, Securitisation, Global environment tax, Currency transaction tax
Contents :
» Commitment to Poverty Alleviation
» International Finance Facility: The Marshall Plan?
» The Challenges
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