Posted on March 4, 2008

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Clinton Giustra Sustainable Growth Initiative Launches Initial Projects

The William J. Clinton Foundation has announced the first round of projects being undertaken by the Clinton Giustra Sustainable Growth Initiative, which seeks to transform the way business is done in the developing world.

Launched by President Bill Clinton and Canadian businessman Frank Giustra in June 2007, CGSGI will focus its initial grants on the natural resources industry in Colombia and Peru, where the industry represents an important part of the economy and where the disparity between rich and poor is especially large. CGSGI will partner with governments, communities, nongovernmental organizations, and the private sector to increase the scope, scale, impact, and sustainability of social and economic development efforts.

Initial projects in Colombia will focus on expanding health services, education, and economic opportunity over the next several years, while those in Peru will focus on child nutrition and enterprise development. In Colombia, for example, CGSGI will launch a $5 million effort to develop sustainable, market-driven businesses in some of the poorest areas of the country with support from Coalcorp and Pacific Rubiales. And in Peru, it will make a three-year, $6 million commitment toward the reduction of chronic child malnutrition in the Ancash and Cajamarca regions.

The initiative is also developing additional programs with Mexican billionaire Carlos Slim and the Carso Foundation in Mexico, Peru, and Colombia.

"In a world where the differences between rich and poor are enormous, we all share a responsibility to ensure that every community has access to education, quality health care, and economic opportunity," said Clinton. "Working with a variety of partners, CGSGI is addressing poverty and social challenges in an entrepreneurial way, and these first projects will help to create jobs, increase incomes, and improve thousands of lives in many poor communities."

For more information about specific projects in Colombia and Peru, visit the Clinton Foundation Web site.

“President Clinton Announces Projects of the Clinton Giustra Sustainable Growth Initiative.” William J. Clinton Foundation Press Release 3/01/08.

Primary Subject: International Affairs/Development
Location(s): Colombia, International, Peru

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