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Every time you buy a ticket, you save a life? UNITAID's amazing plan!
In a country ravaged by poverty and disease, funding shortages surround the operation of public health systems. That is about to change as innovative funding mechanisms emerge. This is more than just an idea, it’s having a real impact around the world where it’s needed most. This article will take a closer look at how you can support these changes with a small contribution from every flight you buy, and more importantly, how these innovative models can improve health systems in developing countries.
The origins of innovation funding
The concept of innovative financing was first proposed at the International Conference on Development Financing in 2002. The conference resulted in what is now known as the Monterrey Consensus, where the signatories recognized "...the value of exploring innovative sources of financing, provided that these sources do not impose an undue burden on developing countries."
Since 2000, innovative funding mechanisms have been created to help achieve the Millennium Development Goals (MDGs).
Principles of innovative funding mechanisms
Effective innovation funding mechanisms should follow a series of principles, including expanding funding scale, increasing funding sources and ensuring sustainability. These mechanisms should be designed to complement official development assistance and provide a sustainable source of funding for the development of long-term projects.
Current mechanisms for financing innovative health care
UNITAID is undoubtedly an outstanding example among many innovative financing mechanisms. This is an international agency that specializes in purchasing drugs for HIV/AIDS, malaria and tuberculosis. Since 2009, 13 countries have imposed a "solidarity tax on airline tickets". These funds are used to support projects related to these three diseases.
UNITAID's innovative funding approach means every ticket purchased is an opportunity to change a life.
Potential innovative funding mechanisms
Potential innovative funding mechanisms for the future include a currency transaction tax (CTL), a potential taxation scheme that could levy a levy on foreign exchange transactions. In addition, the proceeds from the auction of emission permits could also become a source of funds to promote environmental protection and sustainable development.
These innovative ideas not only provide financial support, but also promote global discussions on sustainability initiatives.
Global support for innovation funding
The UN’s support for innovative finance comes from several international development finance conferences and the consensus of participants on the importance of promoting innovative finance. Many international organizations are also exploring emerging funding mechanisms that will help create greater impact.
ConclusionAs the world becomes more receptive to innovative funding approaches, the challenge ahead is to ensure that these funds are effectively and sustainably directed to where they are most needed around the world. Of course, every time you buy a plane ticket, it may be a small step for you to change the world. Can you think of more such influential actions?
