31 May 2016
Marcos Neto, Director, Istanbul International Center for Private Sector in Development
Private sector, individual companies and philanthropic actors support humanitarian action and development in many countries. Photo: UNCT
In February, Tropical Cyclone Winston hit Fiji, resulting in loss of life, disruption to business supply chains and damage to properties. The estimated cost to the Fijian economy was US$470 million. Imagine the even greater impact to the Philippines, which is visited by an average of 20 typhoons every year, five of which are destructive.
The challenges the world is facing right now are overwhelming. More than 130 million people are in need of humanitarian assistance in the world today. Some 60 million people have been forcibly displaced. UN-coordinated plans to provide life-saving aid and protection to the most vulnerable people require nearly US$21 billion each year. …