Grameen Bank founder Muhammad Yunus thinks it’s time to scale up innovative financing for development. In an exclusive guest opinion, the Nobel Peace Prize winner shares his take on how to stretch development dollars and improve global health by making aid more effective. Read the full op-ed, and check out this excerpt:
With the population of the world now topping 7 billion people, improving global health outcomes has increasingly become a concern in development agendas. In these hard economic times, we can no longer exclusively depend on the good graces of donor governments alone. Rather, we must think creatively about new ways to financially support global health and development goals, without relying on increasing rates of development assistance.
In recent years, scaled-up efforts towards innovative financing for global health have been put in place to effectively address these problems associated with traditional aid financing. The concept of innovative financing is that successful financial instruments in the private sector are recast to suit development objectives, and its goal is to bridge the resource gap and accelerate the procurement of essential health goods to the poor.
Read Muhammad Yunus’s full op-ed, brought to you by Devex in partnership with the United Nations Foundation.
