Printer Friendly

United States : World leaders pledge US$1 billion to transform health and nutrition of worlds poorest women, children and adolescents.

The Global Financing Facility (GFF) in Support of Every Woman Every Child announced US$1.005 billion in contributions from the Bill & Melinda Gates Foundation, Burkina Faso, Canada, Cote d'Ivoire the European Commission, Denmark, Germany, Japan, Laerdal Global Health, the Netherlands, Norway, Qatar and the United Kingdom. This will help the GFF partnership on the pathway toward expanding to as many as 50 countries with the greatest health and nutrition needs and contribute to saving and improving millions of lives by 2030. The event was an important milestone toward the goal of raising as much as US$2 billion to expand to a total of 50 countries; the GFF is expecting additional pledges from new and existing investors who are considering new multi-year commitments.

The GFF is a catalyst for health financing that is helping countries to transform how they invest in women, children and adolescents because for too long, their health and nutrition has been chronically and persistently de-prioritized and underfundedresulting in the preventable deaths of 5 million women and children every year. The GFF helps countries in three specific ways: developing an investment case and implementation plan prioritizing reproductive, maternal, newborn, child and adolescent health and nutrition and a strong primary health care system; strengthening a country-led platform that aligns all key stakeholders around a prioritized health and nutrition plan; and working with countries to mobilize and coordinate the financial resources needed to accelerate progress for the most vulnerable populations in the hardest-to-reach regions.

Today there is great hope that the worlds poorest countries can build healthy, vibrant futures where no woman, child or youth is left behind. The GFF partnership is effective and efficientworking with countries to develop the capacity to build and sustain the health systems their women and children need to survive and thrive, said Erna Solberg, Prime Minister of Norway and Co-Chair of the Sustainable Development Goals Advocates.

More than 2 billion people live in countries that spend less than $25 per capita on health. This is less than a third of what is needed for countries to provide basic, life-saving health services for their people. Through working with the GFF, Burkina Faso, Cte d'Ivoire, Nigeria and other GFF-supported countries have shown that it is possible for all countries to improve their future and invest in the most vulnerable people in their societies by increasing investment in health. It also demonstrates that generous, but relatively small financial contributions canwhen aligned and spent catalytically and efficiently in support of national investment caseshave exponential impact by mobilizing additional financing and saving millions of lives.

Today in Oslo, Burkina Faso reaffirmed its commitment to allocating at least 15% of its annual budget to improve health; Cte d'Ivoire committed to increasing its health budget 15% annually; and Nigeria recommitted to investing US$150 million per year from its budget to sustainably finance health and nutrition of women, children and adolescents. Increasing domestic resources is an integral focus of GFF-supported countries.

The GFF is about country-ownershipworking with countries to set priorities, and drive domestic resource mobilization. These are the GFFs great strengths. It makes the most compelling case for why countries must lead and put their own money on the table, and it reinforces the prioritization of resource allocation for basic social sectors, particularly the health sector, said Roch Marc Christian Kabor, President of Burkina Faso.

Donors and countries today responded to an urgent need for countries to transform health financing in order to accelerate progress on universal health coverage and to contribute to the achievement of the Sustainable Development Goal (SDG) targets of ending preventable maternal, newborn, and child deaths and improving the health and nutrition of women, children and adolescents.

In 2018, all mothers should be able to protect their own health, and the health of their babies and children. But each day, 830 women die from complications related to pregnancy or childbirth and 450,000 children under five die needlessly every month, said Kristalina Georgieva, CEO of the World Bank. The GFF brings bold new thinking that aims to end this injustice through smart interventions and coordinated finance that can transform the health, wellbeing and life-chances of women, children and adolescents in developing countries.

Today the World Bank, which hosts the GFF, announced that in just the last three years, US$482 million in funding from the GFF Trust Fund had been linked to US$3.4 billion in funding from the World Banks International Development Association (IDA) and International Bank for Reconstruction and Development (IBRD). The US$1.005 billion pledged to the GFF Trust Fund in Oslo today is expected to link to an additional US$7.5 billion in IDA/IBRD resources for women, children and adolescents health and nutrition.

Additionally, in partnership with the GFF, the World Bank announced that the World Bank Treasury had launched a series of Sustainable Development Bonds to raise awareness among investors of the significant and long-lasting benefits of investing in the health and nutrition of women, children and adolescents, and that these have raised US$935 million since June 2018. These bonds bring private capital into the IBRD financing pool and serve as an entry point for investors to become aware of the growing opportunities in sustainable investments. To reduce barriers for countries to access these funds, the GFF provides co-financing and loan buy-down grants that enable governments to catalyze public and private funds for investing in the health and nutrition of women, children and adolescents.

[c] 2018 Al Bawaba (Albawaba.com) Provided by SyndiGate Media Inc. ( Syndigate.info ).
COPYRIGHT 2018 SyndiGate Media Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2018 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Mena Report
Geographic Code:6BURK
Date:Nov 9, 2018
Words:923
Previous Article:United States : Emerging, Developing Economies to Face Challenges if Global Inflation Rises.
Next Article:United States : World Bank Group and Bill & Melinda Gates Foundation Commit to Innovation to Speed Up Sanitation for All.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters