Calvert Foundation will explore U.S. diaspora populations’ potential to invest in their home countries through our Community Investment Note.
Bethesda, MD (PRWEB) July 15, 2013
Calvert Foundation today announced the receipt of a grant to develop an initiative that will enable members of diaspora communities in the U.S. to invest in their countries of origin. The initiative will raise capital from diaspora populations to support high impact organizations working with small businesses, infrastructure, health care, sustainable agriculture and many other critical services.
The W.K. Kellogg Foundation is supporting the first phase of the initiative, a feasibility study, with a $200,000 grant.
“Diaspora populations represent roughly $400 billion in savings, and want to invest in the social and economic development of their countries of origin,” said Calvert Foundation Chief Strategy Officer Jennifer Pryce. “But many don’t have access to the tools to do that. With support from the Kellogg Foundation, we will explore U.S. diaspora populations’ potential to invest in their home countries through our Community Investment Note.”
The Initiative will focus on directing investment raised through Community Investment Notes to projects and organizations in targeted countries working to improve social and economic conditions. People will be able to invest as little as $20 online to support economic development opportunities that generate social, environmental, and financial returns.
Calvert Foundation intends to launch funds for several different countries and regions under the Diaspora Initiative.
Pryce said: “As international aid from donor countries declines, investors are playing an increasingly important role in economic development around the world. Investment opportunities tailored to a specific cause, like the Diaspora Initiative, can help individuals support the causes that inspire them. We see great potential in harnessing the energy, passion, and resources of diaspora communities for development.”