May 11, 2009
MCC Hosts Roundtable with Initiative for Global Development to Welcome New Frontier 100 Program Partnering U.S. and African CEOs
Frontier 100 Works to Reduce Poverty Worldwide through Investment and Growth
Washington, D.C.The Millennium Challenge Corporation (MCC) hosted a roundtable with the Initiative for Global Development (IGD) to discuss business-led poverty reduction solutions with Frontier 100, a new effort that brings together successful CEOs in developing country markets and CEOs from the United States. The Frontier 100 program, created by IGD in collaboration with Dalberg Global Development Advisors, is designed to create lasting poverty reduction through new partnerships, investment, and growth.
Frontier 100 is an innovative program that will add great momentum to business-driven poverty reduction initiatives, said Rodney Bent, MCC Acting Chief Executive Officer. MCC is pleased to host this event to support collaboration and sharing among successful CEOs in the U.S. and Africa as we continue to support efforts that reduce poverty through economic growth in some of the poorest countries in the world.
At the roundtable, Mr. Bent and Jonathan Bloom, MCC Deputy Vice President of Compact Implementation for Africa, joined CEOs from the U.S. and Africa, as well as representatives from the U.S. Agency for International Development, the State Department, the Treasury Department and the U.S. Trade Representative to discuss barriers to poverty and successful ways businesses can stimulate economic growth in developing countries.
Frontier 100 will create opportunities for business leaders to work together to catalyze economic growth and help lift people out of poverty. The program allows major U.S. CEOs access to insight on emerging markets from executives who know the markets best and connects CEOs facing similar challenges as they enter new markets. CEOs in emerging markets are able to gain access to best practices of the most successful global companies and make connections with other frontier market business leaders. All members in the first group of Frontier CEOs are from Africa, representing businesses that have average annual revenues of more than $100 million. Subsequent groups will come from other regions such as Southeast Asia and Central America.
MCC, an innovative and independent U.S. Government foreign assistance agency, is helping lead the fight against global poverty. Created by the U.S. Congress with strong bipartisan support in 2004, MCC is changing the conversation on how best to deliver U.S. foreign assistance by focusing on good policies, country-led development, and results. MCC forms partnerships with some of the worlds poorest countries, but only those committed to good governance, economic freedom, and investing in their citizens. MCC provides these well-performing countries with large-scale grants to fund country-led solutions for reducing poverty through sustainable economic growth. MCC grants complement other U.S. and international development programs.
# # #
Millennium Challenge Corporation (MCC), a United States Government agency designed to fight poverty in developing countries, is based on the principle that aid is most effective when it reinforces good governance, economic freedom, and investments in people that promote economic growth. For more information about MCC, visit www.mcc.gov.
The Initiative for Global Development (IGD) is a national alliance of business leaders that champions effective solutions to global poverty. Global poverty is at the root of many of the worlds greatest challenges and IGD believes that dramatically reducing it is one of the most powerful steps we can take in creating a better future. For more information, visit http://www.igdleaders.org/.
Dalberg Global Development Advisors is a multinational strategic consulting firm focused on global development. From eight offices around the world, Dalberg works with leading corporations, governments, international multilateral institutions, NGOs, and foundations on the most pressing issues of global growth and development. For more information, visit www.dalberg.com.