UN wants to see cash transfers go global to fight coronavirus

Covid-19UN wants to see cash transfers go global to fight coronavirus

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UN wants to see cash transfers go global to fight coronavirus

Introducing a temporary basic income for the world’s poorest people will not only give them the means to buy food and medicine, but could also help stop the spread of the coronavirus, the United Nations Development Programme (UNDP) stresses in a new report released on Thursday.

The report, Temporary Basic Income: Protecting Poor and Vulnerable People in Developing Countries, advocates for a time-bound and unconditional cash transfer to serve as a minimum income guarantee for 2.7 billion people living under or near the poverty line in 132 developing countries.

The Temporary Basic Income, or TBI, is estimated to cost from $199bn to $465bn a month depending on how it is structured, and can last nine to 12 months – or longer if needed – as governments get to grips with the coronavirus pandemic that is currently spreading globally at a rate of 1.6 million new cases per week.

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