Davos, Switzerland — World Bank President Jim Kim is bullish on the opportunity for grant-making institutions such as the Global Fund to use a little financial engineering to make health and development dollars go farther.
Speaking at a breakfast event Thursday at the World Economic Forum in Davos, Switzerland, Kim made a pitch to global health donors, asking them to consider channeling their funds through the Global Financing Facility for maternal and child health, which promises a four to five time multiplication effect for the money it receives. By de-risking investments for the private sector and allowing countries to access low-interest financing, the GFF makes it attractive for countries to take World Bank loans for health projects — and to spend more of their own money on those projects.
Kim thinks more donors should use it.
Read more on our coverage of the World Economic Forum:
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About the author
Michael Igoe@AlterIgoe
Michael Igoe is a Senior Reporter with Devex, based in Washington, D.C. He covers U.S. foreign aid, global health, climate change, and development finance. Prior to joining Devex, Michael researched water management and climate change adaptation in post-Soviet Central Asia, where he also wrote for EurasiaNet. Michael earned his bachelor's degree from Bowdoin College, where he majored in Russian, and his master’s degree from the University of Montana, where he studied international conservation and development.
