Move taken to channel CSR fund to grassroots
FE Report | Tuesday, 3 June 2008
A new initiative to pool corporate CSR funds and channel them to fight poverty has been taken by Management and Resources Development Initiative (MRDI).
At the core of the idea is to search across the country to identify unique problems that hold back community development, find solutions and then motivate the corporate sector to commit funds for mitigation, said a press release.
Journalists and issue experts will team up to identify problems and possible interventions. These will be presented to the corporate sector through lobby meetings and fund raising initiatives. Local people will implement the tasks with the help of local development organizations.
Rokia Afzal Rahman, Former Advisor to the Caretaker Government and President, Bangladesh Federation of Women Entrepreneurs (BFWE), who will be the advisor to the project, said that "Corporate sector is an important social actor who has more to offer than creating wealth and providing employment. Through channeling CSR funds to address grassroots development needs, as intended under this project, corporate sector can play a direct role in poverty reduction."
Moazzem Hossain, Editor of The Financial Express who will act as anchor of the programme, said: "Business does not mean only making profit. It is also sharing the profit for the community's wellbeing. Strong business goodwill develops though such work, which goes a long way in brand establishment. The modern business means stronger CSR. We hope to bring this culture to Bangladesh business horizon."
"This is a unique idea of mainstreaming the corporate sector into development work at the grassroots," said Shaheen Anam, Executive Director of Manusher Jonno Foundation that is funding the project namely Mainstreaming CSR to Address Poverty (MCAP). "CSR fund has always been a major source to fight poverty worldwide. However, this is yet to take shape in Bangladesh. With the MRDI's project, we hope that a new culture change will take place in the country's corporate world", she added.
The project will roll for three years - the first year being the intervention identification and fund raising phase. It will then enter into field level intervention and implementation phase. A maximum of nine such interventions will be implemented over a period of 3 years.
Hasibur Rahman, Executive Director of MRDI, said although the initiative will cover the whole country, it will target the marginalized and extreme poor communities. It will also focus on Millennium Development Goals (MDGs) relating to health, education, environment and children, he further added.
At the core of the idea is to search across the country to identify unique problems that hold back community development, find solutions and then motivate the corporate sector to commit funds for mitigation, said a press release.
Journalists and issue experts will team up to identify problems and possible interventions. These will be presented to the corporate sector through lobby meetings and fund raising initiatives. Local people will implement the tasks with the help of local development organizations.
Rokia Afzal Rahman, Former Advisor to the Caretaker Government and President, Bangladesh Federation of Women Entrepreneurs (BFWE), who will be the advisor to the project, said that "Corporate sector is an important social actor who has more to offer than creating wealth and providing employment. Through channeling CSR funds to address grassroots development needs, as intended under this project, corporate sector can play a direct role in poverty reduction."
Moazzem Hossain, Editor of The Financial Express who will act as anchor of the programme, said: "Business does not mean only making profit. It is also sharing the profit for the community's wellbeing. Strong business goodwill develops though such work, which goes a long way in brand establishment. The modern business means stronger CSR. We hope to bring this culture to Bangladesh business horizon."
"This is a unique idea of mainstreaming the corporate sector into development work at the grassroots," said Shaheen Anam, Executive Director of Manusher Jonno Foundation that is funding the project namely Mainstreaming CSR to Address Poverty (MCAP). "CSR fund has always been a major source to fight poverty worldwide. However, this is yet to take shape in Bangladesh. With the MRDI's project, we hope that a new culture change will take place in the country's corporate world", she added.
The project will roll for three years - the first year being the intervention identification and fund raising phase. It will then enter into field level intervention and implementation phase. A maximum of nine such interventions will be implemented over a period of 3 years.
Hasibur Rahman, Executive Director of MRDI, said although the initiative will cover the whole country, it will target the marginalized and extreme poor communities. It will also focus on Millennium Development Goals (MDGs) relating to health, education, environment and children, he further added.