Davos Annual Meeting 2005 - Funding the War on Poverty

Funding the War on Poverty A substantial boost to aid flows, major improvements in market access, and debt relief on more generous terms are needed to create a solid foundation for rapid growth and competitiveness in the developing world. New paths based on close cooperation and shared responsibilities between donor countries and developing nations, as well as the private and public sectors should be fully explored. 1) Are recent proposals for innovative sources of financing, such as the UK International Finance Facility or the "Lula Fund" viable options? 2) Will improved market access and FDI eventually replace traditional aid flows and permit a more effective integration of the developing world into the global economy? 3) If so, what are the three or four key steps which developing countries should take in order to fully benefit from international trade and to attract higher volumes of FDI? Can trade integration help? Gordon Brown, Chancellor of the Exchequer of the United Kingdom William H. Gates III, Co-Founder, Bill & Melinda Gates Foundation; Chairman and Chief Software Architect, Microsoft Corporation, USA Luiz Inacio Lula da Silva, President of Brazil Benjamin William Mkapa, President of Tanzania Jeffrey D. Sachs, Chair and Director, Earth Institute, Columbia University, USA Domenico Siniscalco, Minister of Economy, Finance and the Treasury of Italy Moderated by William H. Frist, Senator from Tennessee (Republican), USA; Majority Leader, US Senate