Calvert Foundation developing impact investing initiative for diaspora communities
Tuesday, July 16, 2013
The W.K. Kellogg Foundation is supporting the first phase of the initiative, a feasibility study, with a $200,000 grant.
“Diaspora populations represent roughly $400 billion in savings, and want to invest in the social and economic development of their countries of origin,” said Calvert Foundation Chief Strategy Officer Jennifer Pryce. “But many don’t have access to the tools to do that. With support from the Kellogg Foundation, we will explore U.S. diaspora populations’ potential to invest in their home countries through our Community Investment Note.”
The Initiative will focus on directing investment raised through Community Investment Notes to projects and organizations in targeted countries working to improve social and economic conditions. People will be able to invest as little as $20 online to support economic development opportunities that generate social, environmental, and financial returns.