Global Philanthropy and Remittances 2009 Report from Canada - Remittances skyrocket

The Hudson Institute Center for Global Prosperity discusses the role of the private sector, both for profit and non-profit “in the creation of economic growth and prosperity in the developing world.”  Their 2009 Index of Global Philanthropy and Remittances is an interesting resource to understand the interrelationship between ODA, remittances and global philanthropy on developing countries.

Many countries including Canada have committed to spend at least 0.7 percent of their gross national income (GNI) to assist developing countries every year.  Canada’s ODA in 2007 was 4.08 billion compared to $3.68 billion in 2006.  All figures are in US dollars.  This continues to be 0.29 of GNI.  According to the Report Canadian charities spent about $1.36 billion on developing countries in 2007.  Remittances jumped in 2007 from 6.8B in 2006 to 8.9 billion in 2007.  Despite the big increase, Canada dropped from being #2 after the US, to #3 after the US and UK in 2007. 

To read the complete report you can visit:

http://www.hudson.org/files/documents/Index%20of%20Global%20Philanthropy%20and%20Remittances%202009.pdf

GlobalPhilanthropy.ca was created by Mark Blumberg, a lawyer at Blumberg Segal LLP in Toronto, Ontario.  If you have legal questions about non-profit organizations or charities in Canada he can be contacted at .(JavaScript must be enabled to view this email address) or at 416-361-1982 x. 237. To find out more about legal services that Blumbergs provides to Canadian charities and non-profits please visit the Blumbergs’ Non-Profit and Charities page at http://www.blumbergs.ca/non_profit.php, http://www.canadiancharitylaw.ca or http://www.globalphilanthropy.ca