What We’re Reading 11/9/09

Nov 9th, 2009 11:58 AM UTC
By Robyn Mitchell

The Wall Street Journal: The Berlin Wall of Aid: When Will It Fall? (Op-Ed)
In light of the 20th anniversary of the fall of the Berlin Wall today, co-author of “The Aid Trap: Hard Truths About Ending Poverty,” Glenn Hubbard, questions why top-down economic development in Africa – or the “Berlin Wall of Aid” as he calls it – has not fallen despite what the author believes is its “record of failure.” Hubbard highlights the success of the historic Marshall Plan and calls for a shift in the aid system, maintaining that increased aid from NGOs and microfinance has helped millions of poor people start and run micro-businesses across the world. Writes Hubbard, “the time has come for the Berlin Wall of aid to fall. Sub-Saharan Africa is as poor today as it was 50 years ago despite increases in foreign aid.”

New York Times: China Pledges $10 Billion to Africa
The Prime Minister of China, Wen Jiabao, pledged to grant African countries $10 billion in low-interest development loans over the next three years, to establish a $1 billion loan program for small and medium-size businesses, and to forgive the remaining debt on certain interest-free loans that China previously granted less-developed African nations. Mr. Wen also promised to form a partnership to address climate change in Africa, including the building of 100 clean-energy projects across the continent as well as sponsor an array of other programs in health, education, culture and agriculture.

Los Angeles Times: High hopes for a malaria vaccine
A massive malaria vaccine trial is underway in Africa, with 5,000 children already enrolled. If results are favorable, marketing approval could be sought as soon as 2012, making it the first commercial vaccine available for the disease. According to the L.A. Times, the first-generation vaccine is unlikely to reduce infections by more than 50%, but researchers believe that even that level of efficacy could make inroads against the disease and lay the foundation for the development of more-effective vaccines. The goal is to have a vaccine by 2025 that is 80% effective and that lasts for at least four years.

The Guardian: Gordon Brown is right: rich western banks should pay for the developing world to go green (Op-Ed)
British Prime Minister Gordon Brown argued this weekend that the proceeds from a global tax on banking transactions could be the key to breaking the deadlock on Copenhagen climate talks in December. The Guardian provides support for Brown’s arguments, stating that without a willingness by the west to bankroll greener economic strategies in the developing world there will be no climate change deal. The paper further emphasized that the negotiations expected in Copenhagen next month “are starting to echo the global trade liberalization talks, which began in Doha eight years ago this week and are still going nowhere.”

New Vision (Uganda): Donor Aid in Africa Should Increasingly Go to Women (Op-Ed)
New Vision editorializes that with government bureaucracies fast losing credibility in aid management, donor organizations should engage channels to make their funding more effective, arguing that working directly with women is the most effective way to ensure success. The paper cites evidence from the World Bank, which shows that women borrowers generate additional income through their enterprise and are more likely than men to direct it to household expenses especially those that benefit children. The paper further maintains that “by empowering grassroots women through training, they are investing in tangible, enduring and beneficiary empowerment, self-actualization and future self-reliance – from the bottom of the pyramid.”

Financial Times: G20 yet to deliver on early promise
In light of the recent G20 finance ministers meeting held over the weekend in Scotland, the Financial Times weighs in on whether “the premier forum for our international economic co-operation” is delivering on past promises, particularly those laid out in the latest meeting in Pittsburgh. The paper highlights the little progress that G20 leaders have made in determining the flows of money from rich to poor countries that will be needed in a global climate deal to help the developing world reduce carbon emission. However, despite this, the paper reports that the G20 still believes that it has a chance of success in securing a more balanced global recovery where other initiatives have failed.

TAGS: What We're Reading