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Social financing will revolutionise philanthropy in South Asia

UK Edition - March 2018, SPOTLIGHT
by Richard Hawkes
New approaches to charitable giving, such as innovative finance and impact bonds, are crucial to achieve impact at scale in countries like India.

South Asia is home to 20 per cent of the world’s population. It is also home to 33 per cent of the world’s poor who live on less than $2 a day (World Bank 2016). Some of the major challenges facing South Asia remain persistent: poverty, illiteracy, youth unemployment, gender inequality, trafficking, child labour and mental illness. To tackle this widespread poverty and hardship, His Royal Highness The Prince of Wales, together with leading members of the British Asian Diaspora, established the British Asian Trust (BAT) in 2007 to provide a vehicle for UK and Asian philanthropists to identify and support effective grassroots development programmes in India, Pakistan, Sri Lanka and Bangladesh.