The Center for Global Prosperity is pleased to announce the release of the 6th annual Index of Global Philanthropy and Remittances. For the 2011 edition, CGP has gone green and published the Index online. You can still download the Index and its Executive Summary for free as always by going to the following link (PDF) or by going directly to our website at http://www.global-prosperity.org. The 2011 Index covers philanthropy, remittances, official development assistance, and private capital investment for 2009 (the most recent year for which data are available), showing the impact of the first full year of the global recession on financial flows to the developing world.
As predicted in the 2010 Index, U.S. philanthropy to the developing world remained steady, reaching $37.5 billion in 2009, compared to $37.3 billion in 2008. Remittances from the United States to developing countries reached an estimated $90.7 billion in 2009, down from $96.8 billion in 2008. This money, sent from migrants living in developed countries to their families and hometown villages, however, was still the largest U.S. financial flow to the developing world in 2009, exceeding even private capital investment of $69.2 billion.
Private philanthropy and remittances from all developed to developing countries were nearly twice as much as government aid ($227 vs. $120 billion). All private financial flows comprised nearly 80 percent of the developed world’s total economic engagement with developing countries. This reflects the growth in private endeavors, through philanthropy, remittances, and capital investment, which are now dominant in developing countries, a change from thirty years ago.
This year’s Index details the sophistication of philanthropic partnerships, including cutting edge technology-based solutions. One such story about Kilimo Salama or “safe agriculture,” details an innovative micro-insurance program in which small farmers insure their crops against drought by handling premiums and payouts through mobile phones and solar-powered weather stations. Another project, Question Box, uses a simpler telephone intercom system that connects poor rural populations with much needed information in real time and in their own languages. In Latin America, Lumni has developed a unique way of financing higher education through private capital.
To celebrate the launch of the Index, CGP will hold a luncheon panel discussion on May 12 at 12:00 noon entitled: “Global Philanthropy: Skating to Where the Puck Is Going to Be.” Four distinguished panelists will share their insights on the future of philanthropy – how it is transforming government aid, and how new forms of giving are transforming philanthropy. Panelists include Byron Johnson, Director of the Institute for Studies of Religion at Baylor University; Susan Raymond, Executive Vice President of Changing Our World, Inc; David Simms, Board Chair of Opportunity International Network; and Dennis Whittle, President of the Whittle Group and co-founder of GlobalGiving. I will be moderating the session.