At the annual meeting of the World Economic Forum in Davos, USAID announced the launch of the Enterprises for Development, Growth, and Empowerment (EDGE) Fund, an innovative strategy designed to accelerate development and humanitarian progress through partnerships with the private sector.
Among the initiatives to be supported via the EDGE Fund, stands out Inkaterra Asociación and Smithsonian Center for Conservation and Sustainability’s Madre de Dios Sustainable Landscape Corridor. “In Peru, we will be supporting ecotourism and shoring up our commitment to locally relevant and sustainable economic growth avenues,” announced USAID administrator Samantha Power. “We are raising private capital to develop a 200,000-acre sustainable biodiversity corridor in an area facing some of the highest levels of deforestation and illegal gold mining in the Amazon.”
This groundbreaking initiative addresses an area devoted to reforestation, ecotourism and other sustainable activities. The project will have a positive impact over biodiversity and the regional economy, and the area will be declared a conservation corridor as part of this initiative. Inkaterra Asociación’s Madre de Dios Sustainable Landscape Corridor will act as a hub for green business and investments, to enhance a sustainable future for Madre de Dios. Local communities and key stakeholders engage in value-added economic activities that sustain biodiversity, reduce ecosystem fragmentation, maintain and restore ecosystem services. These agents of change lead to reduced poverty; carbon sequestration capacity; resilient natural habitats; sustainable use of food; water and other natural resources; control of climate and disease; and capacity building in ecotourism and other cultural initiatives.
While USAID has decades of experience partnering with businesses and industries to implement market-led development and humanitarian solutions to global challenges, the new fund will make it easier for USAID and partners to drive real progress and shared prosperity beyond one-off programs. The $50 million fund will help USAID and partners generate sustainable, high-impact public-private partnerships to tackle the climate crisis, deliver gender equality, drive economic growth, and address other key priorities.
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