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| Time: 03:22 | More in Nonprofits & Activism |
SNV makes a three year, $9 million commitment to launch its Impact Investing Advisory Services (IIAS) to help small and medium enterprises (SME) reach investment readiness and source investment deals. Plans to contribute to raising an additional $50 million by 2013.
NEW YORK, Sept. 22 /PRNewswire-USNewswire/ -- At the 2010 Annual Meeting of the Clinton Global Initiative (CGI), Dirk Elsen, Chief Executive of SNV Netherlands Development Organisation (SNV), unveiled SNV's new, three year, $9 million commitment to launch its Impact Investing Advisory Services (IIAS).
Through the initiative, SNV will help small and medium enterprises reach investment readiness and will source investment deals in Africa, Asia and Latin America to benefit low-income citizens via employment creation and income generation. SNV aims to provide services and mobilize investments across various sectors, including agriculture, renewable energy, sustainable tourism and rural development. Impact investing plays an important role in SNV's broader mission to ensure that all people have the freedom to pursue their own sustainable development, and is made possible through generous funding from the Dutch Ministry of Foreign Affairs.
IIAS is a key component of SNV's strategy of addressing poverty alleviation and promoting sustainable development through market-based approaches. SNV seeks to address the challenges that SMEs face in attracting financing to fuel their growth and increase employment. This reality is highlighted in the Gray Ghost Ventures Survey, which revealed that of 31 well-known impact investment funds, only three provide investments at the start-up stage. With the increasing focus on accountability and impact in international development, a paradigm shift is evident where investors are interested in financing enterprises that provide social, environmental and financial returns.
As explained by Dirk Elsen, SNV's Chief Executive Officer, "SNV believes that poverty and inequity cannot be abated without developing local capacities and strengthening small to medium enterprises that empower the poor, leverage private sector engagement and strengthen the business climate. By participating in CGI, we hope to form new relationships with like minded organizations and take advantage of CGI's strong track record in facilitating highly effective partnerships."
Neil Ghosh, Director of SNV-USA, stated, "The economy is the key to poverty eradication and business is the key to economic growth, as we attempt to catalyze sustainable and scalable solutions by developing a strong global alliance that will be of significant benefit for development worldwide."
Due to its local knowledge and in-country presence of over 40 years, SNV is in a unique position to act as a broker between fund managers and SMEs to help these actors connect. By leveraging its presence, expertise and experience, SNV will identify and prepare investment opportunities, conduct due diligence and source deals. To address operational challenges faced by SMEs, such as lack of business training and adequate management systems, SNV will provide technical assistance on gathering market intelligence, streamlining production processes and understanding capital market dynamics to reach investment readiness. From lessons learned over 30 years in value chain development, inclusive business initiatives and other programs that engage the private sector, SNV understands that economic development and employment generation require both investment and investment ready enterprises.
To further this effort, SNV aims to raise $50 million for SME investments by the end of 2013, and is seeking to form partnerships with investment fund managers interested in investing in the deals SNV generates and with the foundations, multi- and bi-lateral organizations, corporations, and NGOs looking to finance technical assistance.
About SNV:
SNV is a non-profit international development organisation with headquarters in the Netherlands and staff in 35 countries. For over 40 years, we have worked with national, regional and local governments, entrepreneurs and citizen associations to alleviate poverty. Our advisory services are funded by public and private sources. With over 900 technical advisors and 100 local teams, we provide expertise in agriculture, renewable energy, education, health, water and sanitation, forestry, tourism, governance and private sector development.
About Clinton Global Initiative:
Established in 2005 by President Bill Clinton, the Clinton Global Initiative (CGI) convenes global leaders to devise and implement innovative solutions to some of the world's most pressing challenges. Since 2005, CGI Annual Meetings have brought together more than 125 current and former heads of state, 15 Nobel Peace Prize laureates, hundreds of leading CEOs, heads of foundations, major philanthropists, directors of the most effective nongovernmental organizations, and prominent members of the media. These CGI members have made more than 1,700 commitments valued at $57 billion, which have already improved the lives of 220 million people in more than 170 countries. The CGI community also includes CGI University (CGI U), a forum to engage college students in global citizenship, MyCommitment.org, an online portal where anybody can make a Commitment to Action, and CGI Lead, which engages a select group of young leaders from business, government, and civil society. For more information, visit www.clintonglobalinitiative.org.
For further information, contact: Neil Ghosh, Director, SNV USA, Tel.: 1 202 572 9273 or email: dc@snvworld.org
SNV makes a three year, $9 million commitment to launch its Impact Investing Advisory Services (IIAS) to help small and medium enterprises (SME) reach investment readiness and source investment deals. Plans to contribute to raising an additional $50 million by 2013.
NEW YORK, Sept. 22 /PRNewswire-USNewswire/ -- At the 2010 Annual Meeting of the Clinton Global Initiative (CGI), Dirk Elsen, Chief Executive of SNV Netherlands Development Organisation (SNV), unveiled SNV's new, three year, $9 million commitment to launch its Impact Investing Advisory Services (IIAS).
Through the initiative, SNV will help small and medium enterprises reach investment readiness and will source investment deals in Africa, Asia and Latin America to benefit low-income citizens via employment creation and income generation. SNV aims to provide services and mobilize investments across various sectors, including agriculture, renewable energy, sustainable tourism and rural development. Impact investing plays an important role in SNV's broader mission to ensure that all people have the freedom to pursue their own sustainable development, and is made possible through generous funding from the Dutch Ministry of Foreign Affairs.
IIAS is a key component of SNV's strategy of addressing poverty alleviation and promoting sustainable development through market-based approaches. SNV seeks to address the challenges that SMEs face in attracting financing to fuel their growth and increase employment. This reality is highlighted in the Gray Ghost Ventures Survey, which revealed that of 31 well-known impact investment funds, only three provide investments at the start-up stage. With the increasing focus on accountability and impact in international development, a paradigm shift is evident where investors are interested in financing enterprises that provide social, environmental and financial returns.
As explained by Dirk Elsen, SNV's Chief Executive Officer, "SNV believes that poverty and inequity cannot be abated without developing local capacities and strengthening small to medium enterprises that empower the poor, leverage private sector engagement and strengthen the business climate. By participating in CGI, we hope to form new relationships with like minded organizations and take advantage of CGI's strong track record in facilitating highly effective partnerships."
Neil Ghosh, Director of SNV-USA, stated, "The economy is the key to poverty eradication and business is the key to economic growth, as we attempt to catalyze sustainable and scalable solutions by developing a strong global alliance that will be of significant benefit for development worldwide."
Due to its local knowledge and in-country presence of over 40 years, SNV is in a unique position to act as a broker between fund managers and SMEs to help these actors connect. By leveraging its presence, expertise and experience, SNV will identify and prepare investment opportunities, conduct due diligence and source deals. To address operational challenges faced by SMEs, such as lack of business training and adequate management systems, SNV will provide technical assistance on gathering market intelligence, streamlining production processes and understanding capital market dynamics to reach investment readiness. From lessons learned over 30 years in value chain development, inclusive business initiatives and other programs that engage the private sector, SNV understands that economic development and employment generation require both investment and investment ready enterprises.
To further this effort, SNV aims to raise $50 million for SME investments by the end of 2013, and is seeking to form partnerships with investment fund managers interested in investing in the deals SNV generates and with the foundations, multi- and bi-lateral organizations, corporations, and NGOs looking to finance technical assistance.
About SNV:
SNV is a non-profit international development organisation with headquarters in the Netherlands and staff in 35 countries. For over 40 years, we have worked with national, regional and local governments, entrepreneurs and citizen associations to alleviate poverty. Our advisory services are funded by public and private sources. With over 900 technical advisors and 100 local teams, we provide expertise in agriculture, renewable energy, education, health, water and sanitation, forestry, tourism, governance and private sector development.
About Clinton Global Initiative:
Established in 2005 by President Bill Clinton, the Clinton Global Initiative (CGI) convenes global leaders to devise and implement innovative solutions to some of the world's most pressing challenges. Since 2005, CGI Annual Meetings have brought together more than 125 current and former heads of state, 15 Nobel Peace Prize laureates, hundreds of leading CEOs, heads of foundations, major philanthropists, directors of the most effective nongovernmental organizations, and prominent members of the media. These CGI members have made more than 1,700 commitments valued at $57 billion, which have already improved the lives of 220 million people in more than 170 countries. The CGI community also includes CGI University (CGI U), a forum to engage college students in global citizenship, MyCommitment.org, an online portal where anybody can make a Commitment to Action, and CGI Lead, which engages a select group of young leaders from business, government, and civil society. For more information, visit www.clintonglobalinitiative.org.
For further information, contact: Neil Ghosh, Director, SNV USA, Tel.: 1 202 572 9273 or email: dc@snvworld.org
