$200 million pledged to Clinton’s initiative
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Former U.S. President Bill Clinton received pledges of more than $200 million for economic development in Africa and to fight HIV/AIDS on Thursday at a private summit on some of the world’s most pressing woes.
Bringing together world leaders, business figures, academics and political activists, the Clinton Global Initiative aims to address four key worries—poverty, religious strife, climate change and corruption.
The inaugural three-day meeting was timed to coincide with the U.N. General Assembly and includes some 40 heads of state among more than 700 expected participants.
It requires attendees to make a written promise to take a specific action in the coming year.
“I don’t claim for a second that the Clinton Global Initiative will solve all of these extraordinarily tough questions,” Clinton said.
“But getting all of these people in one place to focus on these critical problems with a commitment to what each of us can really do to change them is an important first step.”
The first commitments announced were a pair of $100 million investments in African development by the Hunter Foundation and by Mohamed Ibrahim, former head of mobile communications company Cel-Tel Africa.
The Hunter Foundation, through founder Sir Tom Hunter, a Scottish retail entrepreneur, promised its investment over 10 years toward creating a model for sustainable development in an African country in collaboration with the Clinton Foundation.
Ibrahim, a Nubian from Sudan, established the African Enterprise Private Investment Fund, for small and medium businesses, with an initial contribution of $100 million.
The World Vision group and the Global Business Coalition also announced they would join to create Impact! HIV/AIDS, to raise money from corporations for the protection of women and care for children orphaned by the disease.
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