Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-02-14-Speech-2-378"
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"en.20060214.29.2-378"2
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".
Mr President, Commissioner, I would like to talk about the potential offered by the International Financing Facility proposed by the UK Chancellor Gordon Brown. The IFF leverages money from international capital markets by issuing bonds which can potentially raise USD 50 billion each year from 2005 to 2015.
The advantage of this, referring to some of the points you raised in your introduction, Commissioner, is that this money is frontloaded, it is long term, it is stable and it is predictable money. It raises one billion a year, which can be used to get children into school and to abolish the fees that jeopardise the education of millions of children in developing countries, especially little girls.
The IFF has already put in place a pilot scheme for immunisation, which is searching for vaccines for malaria and for HIV/AIDS – the scourge in Africa and many other parts of the world – for which there is no cure. The agreement is to provide a global advanced purchasing scheme to make sure that life-saving vaccines are commercially produced at affordable prices and that these are produced in ways of which we in this Parliament should all approve and which we should find essential at this time.
We acknowledge that meeting the Millennium Development Goals, which is part of the purpose of this debate, is difficult, but if we can put the money in place – predictable money – then we will get every child into school and we will prevent the needless deaths of 30 000 children every day. That is what we are talking about; that is about us trying to translate hope into reality.
When he heard about the IFF, Nelson Mandela said that it was an absolutely necessary and timely initiative that deserves an active response from the international community. I very much hope that the European Union will support this initiative firmly and in a very committed way."@en1
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