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"There is growing pressure on multilateral development banks (MDB), such as the World Bank and the Asian and African Development Banks, to make greener investments in the developing world and align with the targets set by the Paris Agreement on climate change.
Mark Plant is the director of the Sustainable Development Finance Program at the Center for Global Development (CGD) and the chief operating officer of CGD Europe based in London. He says that they are starting to make this a priority.
"The world can’t afford another pandemic—literally. The global economy contracted by 3.5% in 2020, and is forecast to forego $22trn in lost output through 2025. Yet another pathogen with pandemic potential might emerge at any time. As things stand, we are unprepared and courting disaster. But there is a solution: invest now in preparations for pandemics and maintain a pool of capital in reserve to use if a crisis strikes.
The Centre for Global Development, based in the UK and US, published analysis estimating UK aid to education would be cut by 40%.
Analysis co-author, Pauline Rose, professor of international education at the University of Cambridge, called for greater additional funding for education, rather than making more commitments from shrinking aid budgets.
“From early in the pandemic, there were lots of smart people at the Gates Foundation thinking about how to structure financing and incentives for accelerating vaccine development,” Justin Sandefur, senior fellow at the Center for Global Development, a nonprofit think tank based in London and Washington, DC,told me. “To their credit, they worked on this really early on. They convinced themselves that IP was important.”