The eighth annual Clinton Global Initiative (CGI), which concluded on Wednesday, September 26, focused on the theme “Designing for Impact,” which was intended to promote the use of creativity and innovation to drive change, particularly through social investment and the empowerment of women. Approximately 150 new commitments to various projects were announced, as were progress reports for commitments made in previous years. The new commitments include:
-NGO 2.0 Shaping the Next Generation of Social Entrepreneurs – a commitment by the Hult International Business School, a university with campuses in the United States, the United Arab Emirates, China and Brazil, that aims to encourage university students to start social enterprises;
-Agri-Fin Mobile: Increasing Small-holder Income Through Mobile – a commitment by US-based Mercy Corps and the Swiss Agency for Development and Cooperation (SDC) that aims to offer mobile financial services to small-scale farmers in Indonesia, Uganda and Zimbabwe; and
-Essential Capital Fund – a commitment by Deutsche Bank Americas to provide capital to “socially responsible” investment funds and enterprises that support microfinance and other social enterprises.
Progress reports given on previous commitments included:
-Dream Builder: The Women’s Business Creator – launched in 2011 with the aim of developing a business academy for women who wish to start or grow small businesses. According to CGI, the commitment, made by Freeport-McMoRan Copper & Gold Foundation of the US, is on track to train 3,400 women over the next five years;
-Developing MFI Social Performance Scorecard & Ratings – a commitment made in 2010 by The Moody’s Foundation of the United States that aims to develop a scorecard to assess and rate microfinance institutions (MFIs). The effort involves partners such as The Social Performance Task Force, Grameen Bank, Women’s World Banking, BlueOrchard and the Microfinance Information Exchange (MIX); and
-Breaking the Cycle of Poverty – a commitment made in 2009 by Pro Mujer, a US-based provider of microfinance and other services such as healthcare, was completed at the end of 2011, surpassing its goal providing small loans, savings and insurance, business and empowerment training and low-cost healthcare to 350,000 women by 2013.
On September 25, former US president Bill Clinton presented six Clinton Global Citizen Awards to recognize “outstanding” contributions to global problems. The award recipients included Mr Carlos Slim Helu, the founder of Mexico-based Fundacion Carlos Slim, which partnered with Grameen Trust, a Bangladeshi nonprofit organization, to offer microcredit in Mexico, and Mr Luis Moreno, president of the Inter-American Development Bank (ADB), a US-based multilateral financial institution that offers loans and grants to small and medium-sized enterprises (SMEs), among other sectors.
CGI was established in 2005 by former US President Bill Clinton to bring together global leaders to alleviate poverty, create a cleaner environment and increase access to health care and education. CGI members have made approximately 2,000 commitments, which are valued at approximately USD 63 million when fully funded and implemented, and have reportedly improved the lives of 400 million people in approximately 180 countries as of 2012.
By Charlotte Newman, Research Associate
About Clinton Global Initiative (CGI)
CGI was established in 2005 by former US President Bill Clinton to bring together global leaders to alleviate poverty, create a cleaner environment and increase access to health care and education. Its annual meetings, which are held in September by invitation only, bring together heads of state, Nobel laureates, corporate executives, directors of nonprofits, philanthropists and members of the media. CGI members have made approximately 2,100 commitments, which are valued to be approximately USD 63 million when fully funded and implemented and have reportedly improved the lives of 400 million people in approximately 180 countries as of 2012.
About Grameen Trust
Grameen Trust is a nonprofit organization that was established in 1989 in Bangladesh. Grameen Trust supports microcredit with the intent of alleviating poverty globally. It does this through the Grameen Bank Replication Program (GBRP) which provides training, technical assistance, funding and performance analysis to organizations and individuals working to develop microcredit programs using Grameen Bank’s operational and philosophical model.
About Inter-American Development Bank
The Inter-American Development Bank (IDB) is a US-based multilateral finance institution that was established in 1959 and operates in Latin America and the Caribbean. IDB works with governments, companies and nongovernmental organizations (NGOs) to provide both loans and grants to support small and medium-sized enterprises (SMEs), health, education and other sectors. IDB also provides technical assistance and research in these areas. Its Board of Executives is elected by 48 member countries, 26 of which are located in Latin America and the Caribbean. As of 2011, IDB reported total assets of USD 89 billion. The IDB is headquartered in Washington, DC, with offices also in Japan, France and all 26 member countries in Latin America and the Caribbean.
About Pro Mujer
Pro Mujer, which was established in 1990 and administrative offices in the US and Bolivia, is a nonprofit organization that provides healthcare and training services in addition to financial services in five countries: Argentina, Bolivia,
Mexico, Nicaragua and Peru. Both financial and non-financial services are delivered through communal banks, or peer groups, of 20 to 30 women. As of June 2011, Pro Mujer reported that the combined savings of its clients across the five countries was USD 20.4 million.
Sources and Additional Resources:
Information sent to MicroCapital.org from Clinton Global Initiative: “President Clinton Opened 2012 Clinton Global Initiative Annual Meeting Emphasizing Action through Social Investment, Empowering Girls and Women, and Designing for Impact.”
Information sent to MicroCapital.org from Clinton Global Initiative: “President Clinton to Honor Six Recipients at the Sixth Annual Clinton Global Citizen Awards.”
Information sent to MicroCapital.org from Clinton Global Initiative: “Pres. Clinton Hosts Pres. Obama, Pres. Morsi, and Gov. Romney on Closing Day of CGI Annual Meeting.”
Information sent to MicroCapital.org from Pro Mujer: “News Alert- Pro Mujer Surpasses Clinton Global Initiative Commitment 1 Year Ahead of Schedule.”
MicroCapital.org story, September 29, 2011, “MICROCAPITAL BRIEF: Swiss Re Commits to Offering Cholera Insurance in Haiti and Crop Insurance in Senegal, Clinton Global Citizen Awards Announced at CGI Annual Meeting,”
https://www.microcapital.org/microcapital-brief-swiss-re-commits-to-offering-cholera-insurance-in-haiti-and-crop-insurance-in-senegal-clinton-global-citizen-awards-announced-at-cgi-annual-meeting/
MicroCapital.org story, September 21, 2011, “MICROCAPITAL BRIEF: Clinton Global Initiative (CGI) 2011 Annual Meeting Occurring on September 20 – 22 Includes Haiti Investment Workshop,” https://www.microcapital.org/microcapital-brief-clinton-global-initiative-cgi-2011-annual-meeting-occurring-on-september-20-%E2%80%93-22-includes-haiti-investment-workshop/
MicroCapital Universe Profile: Clinton Global Initiative
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MicroCapital Universe Profile: Grameen Trust
http://microcapital.org/microfinanceuniverse/tiki-index.php?page=Grameen+Trust
MicroCapital Universe Profile: Inter-American Development Bank
http://microcapital.org/microfinanceuniverse/tiki-index.php?page=Inter-American+Development+Bank+%28IDB%29
MicroCapital Universe Profile: Pro Mujer
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