Thomson Reuters Foundation, YAOUNDEA funding model launched by the Red Cross aims to attract private capital to conflict zones to help some of the world’s neediest people, while giving investors a return on their money. The Humanitarian Impact Bond set up by the International Committee of the Red Cross (ICRC) with a value of 26 million Swiss francs (US$27.5 million), has attracted capital from New Re, part of global reinsurer Munich Re Group, among other investors. It is the first time the ICRC has used such a funding model — channeling private capital investments rather than relying only on government or philanthropic donations for humanitarian projects. Last year, the ICRC operated 139 projects in 34 countries, helping nearly 330,000 people with physiotherapy and providing wheelchairs, artificial limbs and braces, the Red Cross said. “This funding instrument is a radical, innovative, but at the same time, logical step for the ICRC,” ICRC president Peter Maurer said in a statement.

Source: Taipei Times September 10, 2017 15:56 UTC