$1 Trillion Commitment

During this week's G-20 summit in London, different world leaders agreed to commit a total of $1.1 trillion towards poverty-reduction efforts. As the economic growth of developing countries slows over the next few years, this contribution will be crucial in helping them progress out of poverty. The decision underscores world leaders' commitment to the Millennium Development Goals, even in the midst of a global crisis.
Source: UN News Centre

The Road out of Poverty

World Bank recently finished a study in which they interviewed 60,000 people in 15 different countries about the obstacles in getting oneself out of poverty. The study concluded that the inability to escape it is not due to a lack of will or perseverance, but rather a lack of opportunity. Those who have successfully risen out of poverty have done so as a result of hard work, but also because of access to jobs and markets. To help others escape poverty, the study concludes that it is important to improve access to telephones, roads, electricity, irrigation, loans to be used for production, business skills, and information on how to connect to markets.

Source: World Bank

Leaving G-20

As the G-20 summit came to an end a few days ago, President Obama had a few final thoughts on the meeting:
"Finally, we are protecting those who don't always have a voice at the G-20, but who have suffered greatly in this crisis. The United States is ready to lead in this endeavor. In the coming days, I will work with Congress to provide $448 million in immediate assistance to vulnerable populations, and to double support for agricultural development to over $1 billion so that we are giving people the tools they need to lift themselves out of poverty. We will also support the United Nations and World Bank as they coordinate the rapid assistance necessary to prevent humanitarian catastrophe. This is not just charity though. These are future markets for all countries, and future drivers of growth."
Read full transcript of the press conference here.

Government Spending Through the Years

Jim Bianco of Bianco Research calculated the costs of several major government expenditures from the past into today's numbers. Here's what he found:

• Marshall Plan: Cost: $12.7 billion, Inflation Adjusted Cost: $115.3 billion
• Louisiana Purchase: Cost: $15 million, Inflation Adjusted Cost: $217 billion
• Race to the Moon: Cost: $36.4 billion, Inflation Adjusted Cost: $237 billion
• S&L Crisis: Cost: $153 billion, Inflation Adjusted Cost: $256 billion
• Korean War: Cost: $54 billion, Inflation Adjusted Cost: $454 billion
• The New Deal: Cost: $32 billion (Est), Inflation Adjusted Cost: $500 billion (Est)
• Invasion of Iraq: Cost: $551b, Inflation Adjusted Cost: $597 billion
• Vietnam War: Cost: $111 billion, Inflation Adjusted Cost: $698 billion
• NASA: Cost: $416.7 billion, Inflation Adjusted Cost: $851.2 billion

The $375 billion accumulated debt of the 49 poorest countries in the world, in comparison, seems like pocket change.
Source: AlertNet

Night of Nets

"No child should die from a mosquito bite," is the simple yet powerful statement used by World Vision to promote its latest country-wide campaign against malaria. Night of Nets calls young people to organize events on school campuses and parks to raise awareness around their community about the easily prevented disease that is responsible for countless lives that cannot afford an insecticide-treated bed net. Along with raising funds to provide nets for families in a Zambian community, they will be petitioning government leaders to commit to using more resources to combat malaria. Communities are encouraged to schedule their "night" close to World Malaria Day, April 25.
Learn more about the project and how you can host your own event here.

Donation to Improve Women's Rights

Several weeks ago, President Obama signed legislation to restore funding to the United Nations Population Fund (UNFPA), which has been suspended since 2002. The first contribution of $50 million was released shortly after, and will go towards improving the health of women and children in over 150 different countries. "We are delighted that the United States will once again take a leading role in championing women’s reproductive health and rights, alongside all other countries and partners that have supported us over the years," said Thoraya Ahmed Obaid, the agency's executive director.
Source: UN News Centre

How to Boost the Global GDP

According to the the research commissioned by the ONE campaign recently, $50 billion in a stimulus package for Africa could increase global income by $250 billion over the next ten years. Because of the financial crisis, sub-Saharan Africa is expected to experience a $40-50 billion loss in 2008-2009. The proposed stimulus would have a positive impact on global GDP, increasing it by 0.1% in 2009-2010, roughly $44 billion. This research, a collaborative effort by the Overseas Development Institute (ODI) and the National Institute of Economics and Social Research, will hopefully encourage the leaders at this week's G20 meeting to make the issue of global poverty a priority.
Source: The ONE blog

A Spoonful of Sugar Helps Malaria Patients

Severe cases of malaria lead to vomiting and not eating properly, causing low blood sugar. This condition, hypoglycemia, can rapidly lead to coma or death if left untreated. The typical treatment for it is an intravenous glucose drip, however this is not always available in the most remote malaria-stricken areas. A recent study showed that placing water-moistened spoonfuls of sugar under the patient's tongue achieves similar results. The sugar gets absorbed quickly, and raises the glucose levels at nearly the same rate as intravenous equipment. This method is far from perfect, but for those who lack access to proper equipment, it is the difference between life and death.
Source: Reuters

Chocolate on a Mission

Kuapa Kokoo is a co-op of cocoa farmers in Ghana, set up in the early 1990s. By pooling their resources, farmers were able to gain control of trading their own cocoa, managing the selling process more efficiently than government cocoa agents. One important aspect they oversee is measuring the crops, making sure that the scales aren't rigged at the expense of the farmer. In 1997, they decided to set up their own chocolate company to create even more benefits for cocoa growers. Divine Chocolate is now the most popular fair-trade certified chocolate in the UK, and it was recently introduced to the US. With a mission to empower their farmers to improve their livelihoods, Kuapa Kokoo has used its success to invest in building schools, digging wells for clean drinking water, providing mobile clinics for farmers in remote villages, and creating projects to help women earn money for their families when the cocoa season is over.

Studying Poverty

At UC Berkeley, students from all areas of study are signing up for the university's fastest growing minor, "Global Poverty and Practice". The program became available just 2 years ago, and it gives students the knowledge and experience necessary to fight global poverty. The minor's signature course, "Global Poverty: Challenges & Hopes in the New Millennium," fills up an auditorium of 480 people, with a waiting list of about 200 other interested students. As the program expands even further, maybe other universities across the country will notice, and begin establishing similar areas of study.
Source: UC Berkeley News

Equity Bank Spreading Prosperity in Kenya

Contrary to the pessimistic financial news coming out of most banks lately, Equity Bank of Kenya recently reported record pre-tax profits and expansion plans for Nyanza Province. Equity Bank provides financial services to poor customers in Kenya and Uganda who have never previously had a bank account. According to CEO James Mwangi, the bank's high volume/low margin business model has been successfully attracting customers despite the difficult economic times, making it home to 49% of Kenya's bank accounts. Using its success for a greater good, Equity Bank will be signing a partnership with BAACH (Business Alliance Against Chronic Hunger) to provide Kenyans with access to financial credit, improving their farming activities in an effort to meet the Millennium Development Goals.
More info.