When the United Nations asked the world to contribute priorities for the Sustainable Development Goals (SDGs)—the most ambitious international development agenda of our time—8.5 million people made their voices heard.
The spirit of this unprecedentedly collaborative process was codified in SDG #17, which underlines the need to “revitalize the global partnership for sustainable development.” This is a practice that is inherent in The Rockefeller Foundation’s progress toward building greater resilience and more inclusive economies.
“The Rockefeller Foundation is committed to backing efforts that are catalytic—not just helpful—in tackling the most intractable issues for those whose voices too often go unheard on the global stage.”
The Rockefeller Foundation has been working closely with the U.S. Government’s Overseas Private Investment Corporation (“OPIC”) to source and finance social enterprises, and fund managers that seek to achieve the SDGs. Recently, the Foundation made a $3 million program-related investment to Global Partnerships to ignite support from other foundations, high networth individuals, and a spectrum of investors seeking innovative approaches to achieving the SDGs.
Global Partnerships, a nonprofit with a proven track record of filling critical gaps for the underserved, rural poor in Latin America, the Caribbean, and sub-Saharan Africa, is focusing its sixth fund on growing businesses that are pioneering sustainable solutions to address a variety of SDGs, namely: “Zero Hunger,” “Good Health and Well-Being,” “Affordable and Clean Energy,” and “Decent Work and Economic Growth.”
Global Partnerships provides financing to a pipeline of social enterprises that offer those trapped at the base of the socioeconomic pyramid the tools to begin the climb upward: health services, education, clean and renewable energy; financial products that spur micro entrepreneurship, and credit, training, and market access for small lot farmers.
The Rockefeller Foundation’s investment will support the expansion of social enterprises, microfinance institutions, and other non-bank financial institutions lending to social enterprises and cooperatives that work with base-of-the-pyramid populations in Latin America and sub-Saharan Africa. Additionally, the Foundation’s capital will be used to fund a subordinated tranche within the Global Partnerships Social Investment Fund 6.0, thereby de-risking this deal for other investors and crowding in additional capital. The Social Investment Fund 6.0 is an innovative structure allowing for multiple layers of investment capital with a range of tenors that offers both shorter-term and longer-term liquidity options.
Through partnership selection and financing strategies, The Rockefeller Foundation is committed to backing efforts that are catalytic—not just helpful— in tackling the most intractable issues for those whose voices too often go unheard on the global stage.