The Government of Canada is currently falling short of its targets for contributing funding towards international development; social finance offers a way to help. Gerhard Pries of Sarona Asset Measurement outlines a proposal to leverage private capital to fill the gap, through targeted government initiatives to encourage private investment. This proposal complements the recommendations of the Canadian Task Force on Social Finance final report, Mobilizing Private Capital for Public Good.
Canada’s Official Development Assistance goal is 0.7% of GDP (2008-US$11 billion)
Canada’s ODA contribution was US$4.7 billion in 2008, (0.32% of GDP)
US$6.3 billion (57% short of goal)