WESS 2012: In search of new development finance

UN calls for international taxes

The United Nations is proposing an international tax, combined with other innovative financing mechanisms, to raise more than $400bn annually for development and global challenges such as fighting climate change. This is the theme of its annual report on global development, World Economic and Social Survey 2012: In Search of New Development Finance (WESS 2012), now also available as an e-book (see reference), WDEV summarizes.

In the midst of difficult financial times, many donor countries have cut back their development assistance. In 2011, for the first time in many years, aid flows declined in real terms. Against that background, the survey argues that the financial needs of developing countries have long outstripped the willingness and ability of donors to provide aid. And finding the necessary resources to achieve the Millennium Development Goals and meet other global challenges, such as addressing climate change, will be tough, especially for least developed countries ...

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Find in this article:

The case for innovative funding
Realizing the potential
A billionaire’s tax?
Health as a testing ground
Climate financing mechanisms

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