Wednesday, May 28, 2008
In developing countries, girls may be pushed out of school and into early marriages and pregnancies. The Nike Foundation has identified what it calls the girl effect, the effect that providing girls with education and resources can have on a community. The girl effect brings greater economic stability, less poverty, and more opportunity for economic growth. The Nike Foundation has already devoted $36 million to projects designed to support girls in developing countries. Now Nike, Inc. and the NoVo Foundation (co-chaired by Peter and Jennifer Buffet and funded by Warren Buffett) will team up to do a lot more. Nike, Inc. has committed $45 million over three years, and Nike, Inc. will add another $55 million. The Nike Foundation foundation will manage the money and the projects which seek to build more support for girls as a way to alleviate poverty. Read more about the plans on PNNOnline and on the webpage of the NoVo Foundation.