Philanthropy needs innovation in these difficult times

Filepic/The Star

We are experiencing a crisis like none other in modern history: a global pandemic that has stalled economic activity all over the world.

The International Monetary Fund reported in June 2020 that the global economy will shrink by 4.9% this year – a decline worse than the Great Depression during the 1930s. There has been a massive increase in the number of unemployed people, up by 50% in the OECD (Organisation for Economic Cooperation and Development) area alone.