JdV proposes global poverty fund for the poor

THE Philippine government and other governments in the world should respond to the revelation of OXFAM, a British organization, that only eight persons own 50% of global wealth while countries are pooling resources to initiate programs to alleviate the plight of the poor.

This was the challenge posed by former Speaker Jose de De Venecia when he spoke before the Pangasinan and Northern Luzon Lions Clubs on March 11 in Dagupan City.

Quoting OXFAM, he said “It is obscene for so much wealth in the hands of so few when one out of 10 people survive on less than $2 a day.”

He cited the contrast presented by the efforts of 25 nations supporting the Conditional Cash Transfer (CCT) program of Brazil, Mexico and the Philippines just to send children of the poorest families to school.

To help ensure the development and continued empowerment of the peoples around the globe, De Venecia proposed a major Global Anti Poverty Fund or a Global Micro Finance Fund to help combat poverty and “reduce inequity and help lift the poorest of the people in our region and with the world”.

“Perhaps there might be merit in bringing together the best elements of both capitalism and socialism in a new applied art of governance—based on what works best for a particular society over a specific historical period considering the persistent change gaps between rich and poor in our time,” he said

De Venecia, founding chairman of the International Conference of Asian Political Parties (ICAPP), said the concept could also integrate the finer features of Germany’s “social market” economy and the Scandinavian Welfare System and should operate under the aegis of a liberal institutional authority committed to have elections, free market and free press. (Leonardo Micua)