Press Release: ReGrow West Africa Partnership, Which Targets Post Ebola Economic Recovery, A Featured CGI Commitment
Sep 28, 2015
RESOLVE and Partners Make New Commitment to Reignite Post-Ebola Sustainable Economic Development in Guinea, Liberia and Sierra
September 28, 2015, WASHINGTON – Yesterday, at the Clinton Global Initiative (CGI) Annual Meeting in New York, Stephen D’Esposito, President and CEO of RESOLVE, joined Chelsea Clinton and other leaders on stage, during the Plenary Session titled “Investing in Prevention and Resilient Health Systems,” to announce a new CGI Commitment to Action: catalyzing sustainable economic recovery in the three West African countries most affected by Ebola – Sierra Leone, Liberia and Guinea. The commitment, “ReGrow West Africa: Post-Ebola Private Sector Recovery” was selected for its “exemplary approach to addressing a critical challenge.”
The Ebola public health crisis in West Africa crippled the economies of Sierra Leone, Liberia and Guinea. The withdrawal of private sector investment in these countries has led to huge losses of employment, income and government tax revenue. RESOLVE and ReGrow’s implementing partners, including the German Development Agency (GIZ), Cordaid, Chevron, the TAIA Peace Foundation, the Sierra Leone Investment and Export Promotion Agency (SLEIPA), leaders from the Ebola Private Sector Mobilization Group (“EPSMG”), will support the recovery and development of the private sector in the three affected countries by building public-private partnerships to overcome early development hurdles that block viable projects.
“When it comes to public health, an economic offensive is an essential form of defense. Let’s not forget, prior to Ebola these countries were growing. ReGrow West Africa is simply a catalyst to restart this growth and reignite the entrepreneurial spirit in these countries, underpinned by a focus on sustainable development” said Stephen D’Esposito, President of RESOLVE.
The fundamental premise behind ReGrow West Africa – that strong public health systems are reliant on strong economies with dynamic private sectors – presents novel opportunities for collaborations across sectors, and is part of a new wave of innovative economic development.
“ReGrow West Africa is more than aid, it puts assets in the hands of Sierra Leone, Liberia and Guinea for economic growth today and strengthened health systems and networks tomorrow” said Jeffrey Wright, RESOLVE Board Member, award-winning actor, and businessman who is active in development and philanthropy in Sierra Leone.
Central to this initiative is the ReGrow Marketplace, a platform that will profile investment projects and small and medium-sized enterprises (SME) and help connect them with international investors, donors and other partners. “ReGrow West Africa fills a gap by identifying development-oriented investment projects, curating the portfolio, and creating a platform for private sector partnerships,” said Hussine Yilla, a Sierra Leonean business consultant.
ReGrow West Africa includes an innovative mechanism for providing direct funding for private sector development, the Resilience Trust. Building on the $1M funding commitment from Chevron, the Trust will provide direct investment in SMEs and high-impact greenfield projects.
For more information on ReGrow West Africa and Peace Diamonds contact:
Richard Schroeder, Director, RESOLVE Sustainable Development Initiative
+1 410 446 6426 or +1 202 965 6214
About the Clinton Global Initiative
Established in 2005 by President Bill Clinton, the Clinton Global Initiative (CGI), an initiative of the Clinton Foundation, convenes global leaders to create and implement solutions to the world’s most pressing challenges. CGI Annual Meetings have brought together 190 sitting and former heads of state, more than 20 Nobel Prize laureates, and hundreds of leading CEOs, heads of foundations and NGOs, major philanthropists, and members of the media. To date, members of the CGI community have made more than 3,200 Commitments to Action, which have improved the lives of over 430 million people in more than 180 countries.
In addition to the Annual Meeting, CGI convenes CGI America, a meeting focused on collaborative solutions to economic recovery in the United States; and CGI University (CGI U), which brings together undergraduate and graduate students to address pressing challenges in their community or around the world. This year, CGI also convened CGI Middle East & Africa, which brought together leaders across sectors to take action on pressing social, economic, and environmental challenges.
For more information, visitclintonglobalinitiative.org and follow us on Twitter @ClintonGlobal and Facebook at facebook.com/clintonglobalinitiative.
RESOLVE builds strong, enduring solutions to environmental, social, and health challenges. We help community, business, government, and NGO leaders get results and create lasting relationships through collaboration. RESOLVE is an independent non-profit organization with a thirty-eight year track record of success.
Link to Press Release on CSRWire: http://bit.ly/1Reebe7