The Global Financing Facility (GFF) has dedicated US -$1.005 billion to improve the health and nutritional needs of women, children and adolescents in at-risk communities.
Primary investors for the project include Ivory Coast, Germany, Japan, Denmark, Qatar, Burkina Faso, Canada, Norway, the United Kingdom, European Commission, Bill and Melinda Gates Foundation and Laerdal Global Health.
Erna Solberg, the Prime Minister of Norway and Co-Chair of the Sustainable Development Goals Advocates noted:
“Today there is great hope that the world’s poorest countries can build healthy, vibrant futures where no woman, child or youth is left behind. The GFF partnership is effective and efficient—working with countries to develop the capacity to build and sustain the health systems their women and children need to survive and thrive.”
Statistics show that more than 2 billion people live in countries that spend less than $25 per capita on health. By collaborating with the GFF, Burkina Faso, Nigeria, Ivory Coast and other GFF-supported countries have demonstrated that it is possible for countries to improve the lives of the most vulnerable members in society.
There is an urgent need for nations to alter their health financing in order to achieve the Sustainable Development Goal of mitigating child, maternal, and new-born deaths and increasing progress on universal health coverage.
Kristalina Georgieva, CEO of the World Bank stated:
“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. 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.”
The World Bank Treasury created a series of Sustainable Development Bonds to inform investors of the long-lasting benefits of investing in the nutrition and health of women, children, and adolescents. Since June 2018, the World Bank Treasury has raised US$395 million.
According to the “Lives Saved” report published in The BMJ Global Health, if global initiatives hit targets, GFF partnerships can help all 50 countries with the greatest health and nutritional needs. In addition, if global health initiatives continue to grow at current rates, it is possible that countries will save up to 35 million lives by 2030.
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Photo Credit: Global Financing Facility