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Clinton Global Initiative
Emily Gertz, 15 Sep 05

For the next couple days, I'll be blogging from the Clinton Global Initiative -- a huge inaugural confab of political leaders, non-governmental organizations, private businesses and activists, inaugurated by former U.S. President Bill Clinton around four tracks:

  • Climate Change: Business Challenge, Business Opportunity
  • Governance, Enterprise, and Investment
  • The Escape From Poverty: Forging A New Deal Between The Developed And Developing World
  • Religion, Conflict, and Reconciliation.

    What's going to make this conference different from all other conferences? Clinton's stressing that it's not going to be business as usual. To avoid the more-talk-than-action frustration that seems to dot reports from similar gatherings like Davos, folks attending the CGI are going to be asked to make commitments to take an action in the coming year, and then promise it in writing. We're told promises will be announced and posted over the course of the conference.

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    I heard that the Grameen Foundation USA announced a $50 million MFI loan guarantee program at the CGI. More information on the program can be found at the GFUSA web site.

    From their web site: "Donor-guarantors, individuals who share GFUSA’s vision that microfinance is a scaleable solution to global poverty, issue a five-year standby letter of credit (SBLC) to Citigroup. The individuals do not give up their money, but enable their assets to be put to valuable use as guarantees...Each dollar provided as a guarantee through a SBLC is projected to be leveraged several times for the MFI in their own currency through a variety of transaction structures such as direct loans, securitizations, and bond issues."

    A partnership between one of the world's biggest banks (Citigroup) and one of the best known MFI's (Grameen) to leverage formal financial sector mechanisms for microfinance? That's what I call worldchanging.

    Hope to hear more from the floor, Emily!

    Posted by: Rob on 16 Sep 05

    Emily, if you get a chance to meet him, I suggest you take a minute to talk to Charles Gibbs, Exec. Dir. of the United Religions Initiative. This organization, for whom I moonlight as Regional Coordinator for North America, has members all over the world promoting the Millennium Development Goals and sustainability in general, in addition to the core work to promote understanding and reduce violence. "The purpose of the United Religions Initiative is to promote enduring, daily interfaith dialogue, end religiously motivated violence, and create cultures of peace, justice, and healing for the Earth and all living beings."

    Posted by: Stephen A. Fuqua on 16 Sep 05

    Rob -- thanks for that update -- use of private sector investment and strategies to reach development goals is clearly a HUGE topic here ...

    Stephen, I'd be happy to talk with Charles Gibbs--I am trying to get my sea legs combing the hallways for participants to talk with, and I'll keep an eye out for him.

    Posted by: Emily Gertz on 16 Sep 05

    If you get a chance to speak out please explain to the group that one of the easiest and long lasting way to end Global Poverty is to push for "A Global Investment Fund" which would allow every citizen to invest in or have invested in their Name a very small percentage of their taxes into Treasury Notes from their Central Banks.

    At only $12.5/hr or $5.00/week of Payroll Taxes (less than a dollar a day) being invested by or in the Name of Every Human on Earth (6.4 Billion) into Treasury Notes over a 25 year span would not only give each Human $6,500.00 plus interest, but more important and over $41 Trillion dollars combined total of National Treasury.

    By creating a Global Investment group to oversee the funds, America and the rest of Humanity's Nations would have the funds necessary to build a "Better World" at the same time providing every Human with Hope and the means to get out of poverty.

    Thanks and I want to hear what happens.

    Posted by: Henry Schlatman on 17 Sep 05

    what are the results of what you are each and everyone happy to mention?
    I have results and I am noone.

    Posted by: xavier-michel on 17 Sep 05



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