ABOUT

High Level Taskforce on Innovative International Financing for Health Systems

The Taskforce on Innovative International Financing for Health Systems was launched in September 2008 to help strengthen health systems in the 49 poorest countries in the world. Chaired by UK Prime Minister Gordon Brown and World Bank President Robert Zoellick, the Taskforce released its Recommendations in May 2009, identifying a menu of innovative financing mechanisms to complement traditional aid and bridge the financing gaps which compromise attainment of the health-related Millennium Development Goals (MDGs). The Taskforce completed its work in September 2009 and at the UN General Assembly in New York City, launched new initiatives to raise more money, and use money more effectively, to improve healthcare for women and children around the world

The bigger picture
Spending money on global health is not just a cost, it is an investment. Studies have shown that investing in women and children’s health is an investment in development of a nation’s human capital and economy.
The growth in economy has been global. So has the financial crisis. Health is also a global challenge. Investing in our neighbours’ health is therefore an investment in our own health, a nation’s security and its future.

The global financial crisis and health
Mobilizing additional resources at a time when the global economy is in turmoil is a major challenge. However, it is precisely because of this global crisis that the work of the Taskforce becomes more urgent – the poorest and most vulnerable groups are at even greater risk.
100 million of the poor have already receded back into poverty as a result of the financial crisis. Millions more are at risk of following them.
The High Level Taskforce can explore and recommend actions to allow the strengthening of international assistance during this time of crisis period. Social sector investments need to be protected regardless of economic fluctuations.

The role of Innovative Financing
Current donor funding is not sufficiently predictable nor sufficiently large enough to support reaching the health MDGs. Even if efforts to improve the effectiveness of current aid for health are successful, a sharp increase in resources is required.
Innovative financing focuses on new sources and new instruments for raising revenues, usually outside tax revenue systems which will continue to play an important role. It encompasses different aspects of financing – from additional funding to the effective use of funds.