Global Public Investment: Time to Build the Movement Now

By David McCoyKUALA LUMPUR, Malaysia, Aug 17 2022 (IPS) Global Public Investment. A short and simple phrase. But one that means so much. At its most basic, GPI means public money being used to invest in goods and services that are of global benefit. There is no shortage of goods and services that need GPI, whether they be used to prevent or respond to environmental catastrophe, international war and conflict, or the next pandemic. We live on a single, small and fragile planet and greater levels of GPI are needed to help us look after our planet; and invest in the global institutions and services needed to provide security and health for all. This is why over the last few years a group of committed individuals and organizations have worked to establish new ideas and thinking around GPI. Following an extensive period of consultation and discussion, an Expert Working Group has just produced a report on how we make GPI a reality. The report describes the need for GPI, and how governments may contribute and participate in the governance and effective use of public finance for the common good. Importantly, GPI offers a new model of development finance that can replace the ineffective and colonial forms of donor aid with an approach that is based on true multilateralism, fairness and shared benefit. Central to the idea of GPI is a simple slogan: all contribute, all benefit, all decide. Nothing perhaps illustrates the need for GPI than the new fund being created to finance pandemic...
Source: IPS Inter Press Service - Health - Category: International Medicine & Public Health Authors: Tags: Development & Aid Global Headlines Health Humanitarian Emergencies IPS UN: Inside the Glasshouse Population Poverty & SDGs TerraViva United Nations IPS UN Bureau Source Type: news