“Some ar­gue that, be­cause a large share of the world’s poor live in mid­dlein­come coun­tries, the donor com­mu­nity should re­think how fund­ing is di­rected”

Financial Mirror (Cyprus) - - FRONT PAGE -

I agree. And yet, ac­cord­ing to the World Bank’s World De­vel­op­ment In­di­ca­tors, In­dia’s poverty rate, at 21.9%, is less than half that of Sub-Sa­ha­ran Africa’s 44.4% rate – mean­ing that money is nonethe­less bet­ter spent help­ing poorer coun­tries in the re­gion. The so­lu­tion for coun­tries like In­dia is to find bet­ter ways to re­dis­tribute their wealth, so that more of their ci­ti­zens can ben­e­fit from it.

Wealthy coun­tries have more op­tions to help their poor. In­dia, in par­tic­u­lar, has ac­cess to other sources of de­vel­op­ment fi­nance, in­clud­ing the In­ter­na­tional Bank for Re­con­struc­tion and De­vel­op­ment, the newly launched Asian In­fra­struc­ture In­vest­ment Bank, and the BRICS’ New De­vel­op­ment

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