Articles by Chris Clubb
WHO estimates that 39 million people suffer from blindness, more than half of them due to cataracts, and more than 90 percent of blind people live in the developing world. Cataracts are often curable but the traditional surgery is expensive. Convergence is supporting GlobalVision's plan to build on the affordable eye model that Aravind pioneered in India and establish a network of 60 eye care hospitals in emerging markets over the next 10 years, borrowing techniques from the microfinance sector.
The UN estimates it will take $3.9 trillion a year to achieve the Sustainable Development Goals. Based on current global development spending, that implies an annual funding shortfall of $2.5 trillion. Convergence describes how blended finance can bring together private and public investors to fill that gap.