Clinton, mining industry launch anti-poverty effort

from The Washington Post

Reuters

NEW YORK (Reuters) - Former U.S. President Bill Clinton announced a $200 million initiative on Thursday in partnership with mining industry businesses to fight poverty in Latin America and other poor areas of the world.

The Clinton-Giustra Sustainable Growth Initiative was launched with initial commitments of $100 million each by two philanthropists -- Frank Giustra, a Canadian mining and entertainment financier, and Carlos Slim Helu, a Mexican telecommunications billionaire.

Clinton said the coalition of businesses involved in extracting natural resources in poor countries would work to improve health and education in those countries and promote sustainable development.

"I'm proud of the coalition in the natural resources industry that has come together to invest in sustainable growth in emerging economies," Clinton said in a statement before a news conference at the New York headquarters of his charitable organization, the Clinton Foundation.

"Ultimately our goal is to bridge the gap between the rich and poor, and give all people a shot at a better life," he said.

The statement said there was a long list of potential supporters in a sector where there are more than 2,000 listed mining companies around the world with a market capitalization of more than $1 trillion. At least 20 have joined the coalition.

"A number of major resource, resource finance and supporting companies have agreed to partner with or support the new initiative," the statement said.