In a preview and explanation of his anticipated role at this week’s G-20 summit in Cannes, France, Bill Gates said the report he will present at the meeting will emphasize the need for the world’s richest countries to support innovations in development financing and practices.
“My report will encourage the G20 to emphasize support for innovation that can spur development, especially innovation within developing countries,” Gates said in a blog post. “I have ideas about how industrialized countries can increase support for aid programs, and how to get the private sector more involved.”
According to initial reports about Gates’ report for the G-20 summit, which will be held Nov. 3 and 4, the U.S. billionaire philanthropist is expected to make a case for rich countries to fulfill their standing aid commitments and continue to support development programs around the world despite the current economic slump.
Aid benefits everyone, not just recipient countries, Gates has argued in his blog, explaining that foreign aid has significantly contributed to “economic miracles” in the past years such as those in South Korea, Turkey and China.
Alternatively, cutting aid to poor countries would be counterproductive because of it could alleviate suffering and reverse gains in political and economic stability around the world, Gates said.
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