It is not often that a Minister of Finance of a rich country proposes
a doubling of the aid budget for poor countries. But over the past year and
a half, the British Chancellor of the Exchequer Gordon Brown has spearheaded
an initiative for a major increase in resources for the developing world.
Brown's proposal for an International Finance Facility (IFF) calls on the
richest countries to increase their long-term donor commitments and then to
use these commitments to leverage additional money from the international
capital markets. First announced for debate in January 2003, the IFF is intended
to provide a framework to increase aid from just over $50 billion annually
in 20011 to $100 billion annually in the years
leading up to 2015.2
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