afrol News, 11 May - The Millennium Challenge Corporation (MCC) has hailed the first roundtable with the Initiative for Global Development (IGD) to discuss business-led poverty reduction solutions with Frontier 100, as an additional momentum to winning the fight against poverty in the developing countries.

The roundtable, which brought together successful CEOs in developing country markets and CEOs from the United States, is one of the MCC efforts through the Frontier 100 programme, created by IGD in collaboration with Dalberg Global Development Advisors, and is designed to create lasting poverty reduction through new partnerships, investment, and growth.

“Frontier 100 is an innovative programme that will add great momentum to business-driven poverty reduction initiatives,” said Rodney Bent, MCC Acting Chief Executive Officer, also adding, “MCC is pleased to host this event to support collaboration and sharing among successful CEOs in the US and Africa as we continue to support efforts that reduce poverty through economic growth in some of the poorest countries in the world.”

At the roundtable, Mr Bent and Jonathan Bloom, MCC Deputy Vice President of Compact Implementation for Africa, joined CEOs from the US and Africa, as well as representatives from the US Agency for International Development, the State Department, the Treasury Department and the US Trade Representative to discuss barriers to poverty and successful ways businesses can stimulate economic growth in developing countries.

The aim of the programme is for the Frontier 100 to create opportunities for business leaders to work together to catalyse economic growth and help lift people out of poverty. The programme als allows major US CEOs access to insight on emerging markets from executives who know the markets best and connects CEOs facing similar challenges as they enter new markets.

As explaiuned by the MCC, CEOs in emerging markets are also able to gain access to best practices of the most successful global companies and make connections with other frontier market business leaders.

The MCC said all members in the first group of Frontier CEOs are from Africa, representing businesses that have average annual revenues of more than $100 million. Subsequent groups will come from other regions such as Southeast Asia and Central America, the MCC added.

The MCC, is an independent US government foreign assistance agency, helping lead the fight against global poverty. Created by the US Congress with strong bipartisan support in 2004, the MCC is changing the conversation on how best to deliver US foreign assistance by focusing on good policies, country-led development, and results.

By staff writer

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