African Diaspora Marketplace Program Receives 733 Business Plan Proposals for Economic Growth in African Communities

WASHINGTON, D.C. and DENVER - August 13, 2009 - The inaugural African Diaspora Marketplace (ADM) closed its call for proposals and has exceeded expectations by collecting 733 business proposals. The ADM is a business entrepreneurship program fostering economic development ideas from U.S.-based African diaspora to create plans for sustainable start-up and established businesses in 19 countries in Sub-Saharan Africa.

A collaboration between Western Union and the United States Agency for International Development (USAID), the ADM aims to leverage the know-how and commitment of diaspora communities to help address poverty and unemployment issues in the region. "We are thrilled to have received so many proposals for the launch of this pilot program," said Alonzo Fulgham, Acting USAID Administrator.

"The African Diaspora Marketplace provides a unique opportunity for entrepreneurs with great ideas and dedication to support economic development in Africa. This incredible response underscores the enormous demand for this type of partnership."

"Through remittances, diaspora are among the strongest and most consistent financial supporters of their countries of origin. By removing some of the barriers to job-creating investment, the ADM provides a new way for diaspora entrepreneurs to generate more sustainable economic opportunity," said Anne McCarthy, Executive Vice President of Corporate Affairs, Western Union.

The ADM will award matching grants of between $50,000 and $100,000 to approximately 10-20 small-and-medium businesses with the strongest proposals for boosting economic opportunity and job creation in Sub-Saharan Africa. The initial business proposals will undergo review by a panel of independent reviewers, and finalists will be announced in late October 2009. The grant pool is financed jointly by USAID, The Western Union Company and the Western Union Foundation, as well as through Western Union® Agent Giving Circles featuring Ecobank Transnational Incorporated (ETI) in Africa and Irv Barr Management in the U.S.

USAID Acting Administrator Addresses Haitian Diaspora Unity Congress

The U.S. Agency for International Development's (USAID) Acting Administrator, Alonzo Fulgham, addressed attendees of the Haitian Diaspora Unity Congress Sunday in Miami Beach, Fla. Fulgham's remarks before the members of the International Congress of the Haitian Diaspora focused on USAID's initiatives to assist Haiti in partnership with members of the Diaspora. Other VIPs who addressed the Congress were Haiti's Prime Minister Michelle Pierre-Louis and former President Bill Clinton.

In his remarks, Fulgham discussed the launch of the Diaspora Market Place, a partnership with USAID and Haiti's Sogebank Foundation that will provide $2 million in resources to support investments by members of the Diaspora with small and medium enterprises in Haiti. Fulgham also praised the Haitian Diaspora for its role in assisting with the response to natural disasters and other crises that have affected Haiti in the last year; and encouraged continued assistance,

USAID's programs support the Haitian government in its efforts to promote stability; implement democratic reforms, build public institutions, and provide access to services for its citizens, particularly in health, education, HIV/AIDS services, food security and response to natural disasters in addition to working to increase economic growth and job opportunities.

Fulgham served from 1984 to 1986 as a Peace Corps volunteer in Port-au-Prince, where he worked with the Government of Haiti and local groups to enhance Haiti's competitiveness through export promotion.

Following his attendance at the Congress, Fulgham departed for a 2-day official visit to Haiti to meet with government officials and conduct oversight of USAID programs.