In a joint effort with the United States Agency for International Development (USAID), the Rockefeller Foundation has pledged $100 million for a “climate resilience” fund, especially for developing countries. The fund is designed to assist recovery in nations afflicted by natural disasters like earthquakes and tsunamis.
With such natural disasters, the fledgling economies are impeded by the additional costs of disaster recovery and clean up. Together with the Global Resilience Project (GRP), USAID and the Rockefeller Foundation have united in a multi-stage investment to assist Asia and Africa.
Noting the increase in severe earthquakes in the Asia-Pacific region, the project is designed with the intention to minimize the impact of earthquakes and lower the death toll. With Asia and Africa having been impacted with famines, earthquakes, tsunamis and typhoons in the past decade, the GRP has assessed these regions to be the most at-risk.
As part of the plan, the GRP is offering a series of contests for the best ideas in confronting some reoccurring problems, including food security and disaster preparation. Those that are selected will then receive funding to implement the ideas in pilot programs in three selected areas.
While third-world countries have made great economic strides in the past several decades, with the annual GDP growth rates generally higher than that of their developed counterparts, the developing world is widely recognized by economists as the next new market.
Though the GRP has humanitarian reasons in mind as well, the economic benefits for the U.S. are expansive. The disruptions of individual economies have a ripple effect on the larger global economies since they hinder the amount of trade. With the stimulus of the $100 million contingency plan, the GRP hopes to mitigate the effects of these problems and create a brighter future in Africa and Asia.
– Kristin Ronzi