The Cupboard is Full: Public Finance for Public Services in the Global South
A concerted funding effort is needed to achieve basic services for all. One untapped source for renewed funding of public services is the large pools of public capital accumulating in Public Pension Funds and Sovereign Wealth Funds. At present, they invest heavily in the private sector to maximize returns but under appropriate conditions, such funds could actually realize greater long-term returns from investment in public service provision while avoiding the politically controversial and contradictory practice of using public sector funds to support privatization. Setting up a special development bank in partnership with such funds could provide the resources required for desperately needed public service projects.