A new report conducted by children’s charity, World Vision, in collaboration with Ernst & Young, has revealed that every $1 invested in child-related Official Development Assistance (ODA) yields a staggering $10 return. The ‘Putting Children First for Sustainable Development‘ report quantifies the strong social and economic benefits of ODA and its long-term impact.
However, shockingly, the report also found that despite the positive impact of investment, of the $207 billion average annual global ODA investment, only 5% is child-focused, with a further 7% allocated to broader child-benefitting programs even though children constitute, on average, 46% of aid-receiving populations.
Andrew Morley, World Vision International President and CEO, said: “Children deserve better. We have long known that investing in children is the moral thing to do; now we can see that it makes huge economic sense too. We are in the midst of a global crisis for children. Decades of progress on survival, education, nutrition, and protection have stalled, and even been thrown into reverse. Yet only 5% of Overseas Development Assistance is currently targeted directly at these children’s needs – that number must urgently increase.”
This key disparity highlights a critical gap in global development efforts which needs to be urgently addressed.
🌟 Shocking findings: Our research with @EYnews shows that investing in children yields a whopping 10x return! Yet, only 5% of development aid is directly targeted at them, with a mere 7% benefiting child-focused programs.
Read more: https://t.co/qx1Ha7lv62 pic.twitter.com/3XLQM1IPc1
— World Vision (@WorldVision) May 7, 2024
The new report delivers strong recommendations for all ODA-contributing countries:
- Increase child-related investment: A minimum of a 10% increase in child-related investment by each ODA-contributing country each year has the potential to double the impact of current funding.
- Put a child lens on all diplomatic and development policies and strategies: Children should be a priority for funding and key political policies
- Be accountable to children: Young people should be consulted as part of donor policy-making processes, and national and global forums discussing development issues. Participating governments should use their influence at the upcoming G7 Summit and UN Summit of the Future to ensure children’s needs are not forgotten.
“Investing in children fosters lasting improvements to their welfare and living standards, along with their families and communities. We believe that targeted aid for children must rise to at least 10% to fund much-needed healthcare, education, protection, and support in emergencies. This will help ensure that every girl and boy can achieve their God-given potential in life,” added Mr. Morley.