Recently the World Bank joined governments and the private sector to launch the Adolescent Girls Initiative (AGI) to promote the economic empowerment of adolescent girls in poor and post-conflict countries. The AGI is being piloted in Liberia through a partnership between the Bank, the Nike Foundation and the Governments of Liberia and Denmark. It will be expanded in the coming year to include Afghanistan, Nepal, Rwanda, South Sudan and a sixth country to be identified. The initiative provides funding of US$3 – 5 million per country, and is a new way for the World Bank to engage with the private sector.
“This collaboration is pioneering an innovative approach to unleashing the future economic power of today’s girls. Every global company should invest in the girl effect. Economists have demonstrated that it is the best possible return on investment,” said Mark Parker, President and CEO of NIKE, Inc. “With targeted investments linked to market demand, adolescent girls will reverse cycles of poverty with huge impact on our global economy.”
Public and private sector partners pledged around $20 million to fund the Initiative, including:
- The Nike Foundation $3M
- Denmark $5M
- Norway $3M
- Sweden $3M
- United Kingdom £2M
- City of Milan $3M
The Bank also is developing partnerships with a core group of private sector entities interested in joining the AGI, including Cisco, Standard Chartered and Goldman Sachs. In addition to the initial six countries, project preparation studies will also be conducted in the Lao People’s Democratic Republic and Papua New Guinea with a view to potentially expand the initiative to these countries.
The AGI targets adolescent girls specifically because of their potential to bring unprecedented economic and social change to their families, communities and countries. Research has shown that control of resources by girls and women is fundamental to improving the well-being of girls and their families. They are central to supporting the transfer of wealth from generation to generation and breaking poverty cycles.
Stumble It!
{ 0 comments… add one now }