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Investing in Innovation, Changing Children’s Lives
Small investments in innovative home-grown organizations, rooted in local initiative and driven by entrepreneurial leaders are key to changing the lives of vulnerable children and youth.
Speaking at a Diversity and Inclusion cocktail reception on the sidelines of the Asian Investment Conference, Maya Ajmera said these grassroots groups not only understand their communities’ unique needs but also have access to the language, knowledge, and local resources that can help provide long-term solutions.
Maya Ajmera is the founder of The Global Fund for Children (GFC), a venture philanthropic fund that invests in innovative, community-based organizations working with some of the world’s most vulnerable children and youth. Since 1997, GFC has awarded nearly $20 million in capital to over 400 grassroots organizations in 75 countries.
Ms Ajmera says despite the collective efforts of large donors and national governments, the most marginalized and vulnerable children are difficult to reach.
“These children of ‘the last mile’ — those that are economically and socially outside the range of mainstream services — include the desperately poor, street children, ethnic minorities and children with disabilities. The GFC gives these children access to vital resources by working with grassroots organizations that target their unique needs.
“Grassroots organizations are undercapitalized and undervalued. They are efficient; they operate by directly serving beneficiaries with few, if any, external interventions and by utilizing local resources at local costs, says Ms Ajmera.
GFC’s Investment Model
Ms Ajmera explained GFC’s model is based on infusions of risk capital early in an organization’s development, which, if managed properly, grow as grantee partners become stronger.
“GFC awards one-year grants ranging in size from $5,000 to $20,000 USD to grassroots organizations around the world. Grants grow in size and scope over the course of the funding relationship.
“We know that education can transform children’s lives. Children who are educated are less likely to engage in child labor, live on the streets, or be exploited. As adults, they will be able to work and make a positive contribution to their communities,” says Ms Ajmera.
Also speaking at the event was Michelle Gadsen-Williams, recently appointed Head Global Diversity and Inclusion who reiterated the importance of diversity and its role in providing the Bank with a competitive advantage.
She said one of her key areas of focus was to acknowledge and address the changing demographics in the global workforce.
“As the make up of our workforce changes, we need to adapt our environments and policies to meet the needs of our diverse workforce. Achieving this balance will be an important step in helping us become with world’s most admired Bank,” she said.
Secondary Content
Day 3: Photo Album
