U.S. Secretary of State Hillary Clinton this week announced a $44 million commitment with the Skoll Foundation to scale up game-changing global poverty innovations.
At the Department of State's Global Impact Economy Forum, held in Washington, D.C., Clinton called for the private sector and civil society to join her in "cracking the code on removing the obstacles that limit growth." Clinton also unveiled a new initiative piloting in Brazil, called Accelerating Market-Driven Partnerships (AMP).
"The AMP will draw on the resources of the private sector, civil society, and multilateral partners in both Brazil and the United States, including Arent Fox, Machado Associados, Grupo ABC, HP, the Rockefeller Foundation, the World Bank Group, and Mercy Corps," said Clinton.
The pilot will bring a business eye to solving social and environmental problems in developing markets, focusing on urban areas by providing low-cost housing, offering skills training that builds capacity of local workers, and improving urban waste management systems. If successful in Brazil, other cities will benefit next from the ideas and solutions.
It is obviously important to provide humanitarian relief when people are starving because of bad government policies that undermine agricultural development or because of drought or other acts of nature. But it’s better to get ahead of the curve and to invest in new, more effective agricultural production.
Clinton noted that targeted investments could reach as many as 1.4 billion new mid-market customers with growing incomes in developing countries, which represents more than $12 trillion in spending power.
There is a market waiting to be filled in every corner of this world.
- Global Impact Economy Forum agenda and full panelist list
- Follow the conversation on Twitter with #ImpactGPI
- Sec. Clinton's remarks
- Stanford Social Innovation Review's series: At USAID, Linking Innovation and Evidence to Drive Impact
- Panelists include the Rockefeller Foundation, Morgan Stanley, the U.S. Department of Treasury, the London School of Economics, Mars Corporation, Herman Miller, the World Bank, Swiss Re, Moody’s Investors Service, Calvert Foundation, CitiGroup, the U.S. Department of Commerce, The Lemelson Foundation, Hershey’s, Kraft Foods Foundation, Mercy Corps, Virgin Unite, CISCO, Shorebank, MIT D-Lab, Vox Capital, B-Corp, Ashoka, Acumen Fund, Tides Network and many others.