The Nike Foundation and Peter and Jennifer Buffett, co-chairs of the NoVo Foundation, announced an innovative collaboration to invest in “the girl effect”: the ability of adolescent girls in developing countries to bring unprecedented social and economic change to their families, communities and countries. As part of the announcement, a new website linked to the effort is also being launched, www.girleffect.org
The NoVo Foundation has committed $45 million over three years to the effort. The funding represents the NoVo Foundation’s largest grant since it received a pledge of Berkshire Hathaway stock, worth over $1 billion, from Peter Buffett’s father, Warren Buffett. NIKE, Inc. also announced an additional $55 million investment in the Nike Foundation through fiscal year 2011. This contribution is in addition to the $36 million already invested in the Nike Foundation to date for programs supporting girls in countries such as Ethiopia, Kenya, Bangladesh, Liberia and India. Funds from NoVo and NIKE, Inc. will be managed by the Nike Foundation, which has focused on the issue of girls and poverty since 2004. Together, their goal is to mobilize exponentially more resources from public and private sources directly to adolescent girls through advocacy, awareness and impactful programs.
"If there’s a time to act in the fight against poverty, it’s when a girl stands at the crossroads of adolescence – yet today less than half a cent of every dollar spent on international assistance programs is invested directly in girls. We believe the girl effect deserves more attention,” said Maria Eitel, president of the Nike Foundation.
For girls in developing countries, the effects of poverty and lack of resources can often be seen through early marriage, childbirth and increased HIV infection rates. Such setbacks for women also impact their communities. By supporting young women living in poverty, the Nike Foundation and NoVo aim to help empower women and the communities they live in.
One model already being supported by the joint investments is the BRAC program in Bangladesh. Over the last three years, BRAC has demonstrated the ripple impact of providing adolescent girls with safe environments, informal education and economic resources. Nearly 400,000 girls have participated in the program to date. As a result, they are now 40 percent more likely to have saved money and 40 percent more likely to have taken a loan than non-participants. With Nike and NoVo capital, BRAC will be able to build this innovative model inside Bangladesh while also piloting models in Tanzania and Uganda.
Another example of a funded program is Instituto Promundo in Brazil. This program focuses on shifting attitudes held by men and boys – a crucial population in the foundations' focus on girls. Through workshops and communications campaigns with men and boys, Instituto Promundo helps to shift the attitudes that endanger the health and safety of adolescent girls. With NoVo and Nike’s support, this work is expanding to India, and includes fathers as well as peers.
How can Nike employees get involved? Start by learning more at www.nikefoundation.org and www.novofoundation.org
Read the full press release about the announcement.