Wednesday, March 11, 2009

Triple Win from One Financial Package

Jeffrey Sachs of Columbia University has written an article for Nature online journal, concerning his view of the current economic crisis. In his opinion, the G20 meeting in April could be a critical turning point. He suggests that they set aside $25 billion for funding African sustainable investments, and another $25 billion for low-income countries in other regions. Compared to the trillions of dollars to be discussed for bailing out wealthier countries, this request seems reasonable.

"A financial package from the G20 — a forum of cooperation among 20 large economies — to support sustainable energy, land and water use in the poorest countries could provide a 'triple win'. It could lead to stimulus for richer countries, development for poorer countries and environmental sustainability for all," says Sachs.
Source: Nature