The G20 should start a serious discussion about how innovative financing mechanisms could accelerate global development, but this should not distract from concrete commitments on aid
After years of talking about finding innovative ways to raise money for development – and indeed years of using innovative ways to raise money for development – the issue has well and truly hit the global political agenda. Not only has the Robin Hood tax campaign gained momentum as a result of the financial crisis, but President Nicolas Sarkozy has adopted the issue of innovative finance as one of the priorities for his G20 presidency. He has even brought Bill Gates on board to look at the issue as part of a review of the future of development finance more generally.
After years of talking about finding innovative ways to raise money for development – and indeed years of using innovative ways to raise money for development – the issue has well and truly hit the global political agenda. Not only has the Robin Hood tax campaign gained momentum as a result of the financial crisis, but President Nicolas Sarkozy has adopted the issue of innovative finance as one of the priorities for his G20 presidency. He has even brought Bill Gates on board to look at the issue as part of a review of the future of development finance more generally.
