Asia has amassed one-third of the world’s wealth, but still has two-thirds of the world’s poor, Dr. Ruth Shapiro, CEO of The Centre for Asian Philanthropy and Society’s. (CAPS) said.
“There is now a unique opportunity to use this newly created wealth to alleviate poverty, protect the environment and promote societal resilience. DGI2020 makes it clear that governments, private donors and the social sector must work together, now more than ever, to build a stronger, more prosperous and more equitable Asia as we overcome the economic crisis caused by Covid-19.”
CAPS second edition of its Doing Good Index (DGI2020) reveals the vital role of the social sector, and how Asian countries help or hinder it. The study identifies opportunities for the Sri Lankan government to do more for society, as well as how private/corporate donations must play their part in meeting people’s needs.
As the world struggles to cope with the ongoing pandemic, one thing has become clear: there is no going back to the way things were. Faced with stagnating or contracting economies, governments in Asia are finding it difficult to keep pace with the growing needs of their people. In this context, the social sector, backed by funding from businesses and private individuals, has become even more critical in the provision of vital social services.
In the wake of the COVID-19 outbreak, charitable giving has focused on local community response. International support is declining and “Asia for Asia” philanthropy must fill the gap. If Asians donate the equivalent of 2% of their gross domestic product, an enormous US$ 587 billion can be made available annually – 12 times the net foreign aid flowing to Asia, and nearly 40% of the additionalUS$1.5 trillion that Asia Pacific needs to spend annually to meet the United Nations Sustainable Development Goals by 2030.
“The global pandemic has accelerated the decline in foreign funding among local social delivery organisations, and there is a growing reliance on domestic philanthropy more than ever to ensure that community needs are met,” said Research Economist of the Institute of Policy Studies of Sri Lanka, Kithmina Hewage.
“It is crucial for the social sector to work closely with the government and corporate to increase domestic funds that not only address immediate COVID-19-related needs, but also longer-term needs related to disaster management, environmental conservation, poverty alleviation, and post-conflict reconciliation.”
The DGI2020 research surveyed 2,189 SDOs and interviewed 145 country experts across 18 Asian economies: Bangladesh, Cambodia, China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Myanmar, Nepal, Pakistan, Philippines, Singapore, Sri Lanka, Taiwan, Thailand and Vietnam.
The Institute of Policy Studies of Sri Lanka (IPS) is the local partner for the Sri Lankan component of the study.
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