For Immediate Release: February 2, 2021
Contact: [email protected]
President Clinton launches new Action Network on Inclusive Economic Recovery, announces new Commitments to Action addressing racial and economic disparities amid COVID-19
The new Clinton Global Initiative Action Network on Inclusive Economic Recovery will bring together government, private sector, and civil society leaders to continue the work of building a stronger, more inclusive economy
New York, NY – Today, President Bill Clinton hosted the third installment of “Building an Inclusive Recovery,” a Clinton Foundation series to address racial and economic disparities amid the ongoing COVID-19 pandemic. At the closing of the event, President Clinton announced the formation of a new Clinton Global Initiative (CGI) Action Network on an Inclusive Economic Recovery.
President Clinton said, “It's especially important that we work to address the inequalities facing Black, Latino, and Native Americans, and other historically underserved groups who have borne the brunt of both the health and economic consequences of COVID-19. Given the response to this series so far and the clear need for further efforts to address the challenges we face, this spring, we will formally launch the CGI Action Network on Inclusive Economic Recovery. This Action Network will build on our nimble commitment model that has proved to be very effective in driving progress and responding to changing circumstances in real time, including after the 2008 financial crisis when we launched CGI America.”
Following the success of the Clinton Global Initiative (CGI) Action Network on Post Disaster Recovery, the new network will focus on domestic economic recovery through the Commitment to Action model. The first two Commitments to Action in this new network were made by the Rockefeller Foundation and the United Way of New York City.
- The Rockefeller Foundation will expand its “Opportunity Collective” to break down barriers to capital access for Black- and Latino-owned small businesses. Building on the success of their $12 million program to support small businesses in 12 cities, their additional investment of $3 million will expand support through the development of small business leadership groups, small business coaching and technical assistance, and the catalyzation of investments through the Rockefeller brand and resources.
- United Way of New York City committed to launch the “Campaign for Equity” to respond to the urgent needs of Black communities and other communities of color in New York City most impacted by COVID-19. The campaign, valued at $50 million, will help close these systemic disparities by catalyzing partnerships to drive resources, build capacity, promote advocacy and create an innovation hub for diverse stakeholders to maximize impact.
Recordings of the announcement of these commitments can be found at https://www.dropbox.com/sh/07rgxcy1qmm3ha8/AABc-KENDaujgJjCPBDxz04ja?dl=0.
These new commitments follow those made last fall as a part of initial virtual convenings discussing the need for a more inclusive economic recovery, including commitments by Pacific Community Ventures, Mastercard, and Inclusiv.
The CGI Action Network on Inclusive Economic Recovery will continue to host virtual meetings throughout the year, while inspiring direct action on the ground with partners to reach communities who have been disproportionately impacted by COVID-19.
The Action Network, along with Clinton Global Initiative University (CGI U), follows the success of CGI and its Commitment to Action model. Over the years, CGI and its successors have brought together leaders from across sectors to improve the lives of more than 430 million people in 180 countries worldwide.
About the Clinton Foundation
Building on a lifetime of public service, President Clinton established the Clinton Foundation on the simple belief that everyone deserves a chance to succeed, everyone has a responsibility to act, and we all do better when we work together. For nearly two decades, those values have energized the work of the Foundation in overcoming complex challenges and improving the lives of people across the United States and around the world.
As an operating foundation, we work on issues directly or with strategic partners from the business, government, and nonprofit sectors to create economic opportunity, improve public health, and inspire civic engagement and service. Our programs are designed to make a real difference today while serving as proven models for tomorrow. The goal of every effort is to use available resources to get better results faster – at the lowest possible cost.
We firmly believe that when diverse groups of people bring resources together in the spirit of true cooperation, transformative ideas will emerge to drive life-changing action.