HOW EFFECTIVE PHILANTHROPY CAN END EXTREME POVERTY
For funding leaders who want to maximize their sheer human impact per dollar given, I think there are some principles that are worthy of deeper consideration:
Pay for Delivery
Poverty-eradication tools exist – the world just needs more straight-forward funding for their delivery. New philanthropy could award a fixed amount for every unit of a delivered anti-poverty solution. (e.g., a $1,000 “standing grant” for every one hundred malaria nets delivered, which on average will prevent three hundred illness cases, and save one child life).
There is enormous simplifying value in only funding a limited menu of proven products and services that have rigorous evidence for highly cost-effective impact. And results should always be independently verified in the field, at real-scale conditions.
Vetted field implementers
There are plenty of global implementing organizations – companies, governments, and non-profits who could flex with additional funding. All implementers of grants should be thoroughly pre-vetted, and subjected to annual diligence.
Heavy field presence
Hands-on, practical giving should have a heavy field presence, with staff who embed deeply together with the implementing agencies.
Start slowly, build upon success
Boldness must be matched with realistic implementation.