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The World Bank Group: The World Bank launches private-public
initiative to empower adolescent girls; An innovative alliance that
gives girls the skills they need today to become the economic drivers
of tomorrow
(M2 PressWIRE Via Acquire Media NewsEdge)
RDATE:10102008
WASHINGTON -- The World Bank joined governments and the private sector
today 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.
"Today, adolescent girls in poor countries are generally better
educated than they were 20 years ago. But they remain far behind boys
when it comes to the workplace," said World Bank Group President
Robert. B. Zoellick. "Investing in adolescent girls is precisely the
catalyst poor countries need to overcome poverty. Investing in them is
not only fair. It is a smart economic move."
"Girls are key for the economic future of our country," said Liberia's
President Ellen Johnson Sirleaf. "We are proud of being the first
country to adopt the Adolescent Girls Initiative, and
we want others to join us in expanding this effort to improve the
economic future of girls and young women around the world."
The Initiative was launched today during a conference co-organized by
the World Bank and the Nike Foundation to underscore the importance of
investing in girls because of their ability to bring unprecedented
social and economic change to their families, communities and countries.
"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 today around $20 million to
fund the Initiative, including:
-- The Nike Foundation $3M
-- Denmark $5M
-- Norway $3M
-- Sweden $3M
-- United Kingdom GBP2M
-- 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, Goldman Sachs as well as the Cherie Blair
Foundation.
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.
The Initiative is also supported by the Clinton Global Initiative; the
Cherie Blair Women's Foundation; Peter Sands, CEO of Standard
Chartered; and Dina Powell, Managing Director and Global Head of the
Office of Corporate Engagement at Goldman Sachs, who participated in
the launch alongside Zoellick and World Bank Group Managing Director
Ngozi Okonjo-Iweala; NIKE, Inc. President and CEO Mark Parker and Nike
Foundation President Maria Eitel; Nobel Laureate Michael Spence;
Ethiopian supermodel Liya Kebede; and Grammy-winning Beninese singer
Angelique Kidjo among other well-known figures.
The Adolescent Girls Initiative is part of the World Bank Group's
Gender Action Plan--Gender Equality as Smart Economics, which is
helping increase women's economic opportunities by improving their
access to the labor market, agricultural land and tools, credit, and
infrastructure services.
To learn more about the World Bank's work on gender, please visit:
www.worldbank.org/gender
About the Nike Foundation
The Nike Foundation(www.nikefoundation.org) is a non-profit
organization supported by NIKE, Inc., that is dedicated to investing in
adolescent girls as the most powerful force for change in the
developing world.
CONTACT: Alejandra Viveros, The World Bank Group
Tel: +1 202 473 4306
e-mail: aviveros@worldbank.org
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Copyright ? 2008 M2 Communications Ltd.
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