Jamra primary scholl for children affected by HIV/AIDS, drugs or poverty, Senegal (c) Nell Freeman/Alliance Participants in the Photovioce project, Ecuador © Marcela Nievas for the Alliance
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News update on financing for health

2
JUN
2009

Aids Alliance

Last week the High Level Task Force on Innovative Financing announced their recommendations on a set of financing options to meet the estimated $28-37 billion funding gap needed to meet the health Millennium Development Goals (MDGs).

The Alliance was pleased to see they recommended that a Currency Transaction Levy (CTL) be explored.

“Today’s announcement is potentially good news for the poor. Unless donors deliver on their current pledges and provide an additional $28-37 billion, the three health-related goals to cut child mortality, improve maternal care and combat HIV, TB and malaria will not be met by 2015,” said Anton Kerr, Policy Manager from the International HIV/AIDS Alliance.

Stamp Out Poverty Campaign, the International HIV/AIDS Alliance, Oxfam, Save the Children and Results UK have been campaigning for a Currency Transaction Levy to meet the funding shortfalls for health that the Task Force have identified, and to provide sustainable, long-term financing for development initiatives.

David Hillman from the Stamp Out Poverty Campaign said, “We are pleased to see the inclusion of plans to explore a tax on foreign exchange in the recommendations from the Task Force to the G8.

"We believe of all the innovative financing mechanisms that are being recommended the Currency Transaction Levy is by far the most promising given the volume of additional revenue it can generate."

Despite many advances and achievements the international community is far from achieving the MDGs on health.