Social protection

ILO: Developing countries should invest US$1.2 trillion to guarantee basic social protection

Louise Magnard
October 2, 2020

Closing the coverage gap, worsened by COVID-19, will require additional sources of financing says a new ILO study.

GENEVA (ILO News) – To guarantee at least basic income security and access to essential health care for all in 2020 alone, developing countries should invest approximately US$1.2 trillion – on average 3.8 per cent of their GDP – says a new ILO policy brief.

Since the onset of the COVID-19 pandemic  the social protection financing gap has increased by approximately 30 per cent according to Financing gaps in social protection: Global estimate and strategies for developing countries in light of the COVID-19 crisis and beyond .

Read the article on the ILO website

[VIDEO::https://www.youtube.com/watch?v=09HTor0PRUI&feature=emb_title::normal]

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