MICROCAPITAL BRIEF: Fish Farming Project in Nepal Wins Social Venture Challenge at Seventh Clinton Global Initiative University (CGI U) Meeting in Phoenix, Arizona, USA

The “Sustainable Fish Farming Project”, proposed to provide 500 families in the Baseri village of Nepal with funding to start fish farms, recently won a grant of USD 7,500 from the Resolution Project Social Venture Challenge, a competition among aspiring entrepreneurs who attended the seventh annual Clinton Global Initiative University (CGI U) meeting at the US-based Arizona State University, Phoenix [1]. Since the fish project’s entry into the competition at the CGI U in 2013, the founder of the effort established partnerships with organizations that include Aquaculture Without Frontiers, a US-based organization that supports aquaculture in poverty alleviation, and the Institute of Agriculture and Animal Science, an academic department at Tribhuvan University in Kathamandu, Nepal. The grant is intended to be used to finance the building of the fish ponds as well as to work with partner organizations to train participants on fish farming.

Approximately 1,000 students from 300 colleges, universities and national youth organizations from 80 countries made 695 commitments to address global challenges at the 2014 CGI U meeting.

By Chikondano Faith Chisala, Research Associate

About Clinton Global Initiative University (CGI U): The Clinton Global Initiative University (CGI U) is a program of the US-based Clinton Global Initiative that brings together college students, universities and youth organizations world wide to address global challenges. Previous CGI U meetings have taken place at Tulane University, the University of Texas at Austin, the University of Miami, the University of California at San Diego, the George Washington University, and Washington University in St. Louis. Since 2008, students have made 4,000 commitments at the events,  and 5,500 students from 800 schools and 130 countries have attended the meetings.

About Clinton Global Initiative (CGI): Clinton Global Initiative (CGI) is a program of the US-based Clinton Foundation that was established in 2005 by former US President Bill Clinton with the aim to bring together global leaders to alleviate poverty, create a cleaner environment and increase access to health care and education. Its annual meetings, which are held in September by invitation only, bring together heads of state, Nobel laureates, corporate executives, directors of nonprofits, philanthropists and members of the media. CGI members have made approximately 2,500 commitments, which when fully implemented will be valued at approximately USD 103 billion when fully funded and implemented and have reportedly impacted the lives of 430 million people in approximately 180 countries as of 2013.

Sources and Additional Resources:

[1] Clinton Foundation, Press Release, “President Clinton, Former Secretary of State Hillary Rodham Clinton, and Chelsea Clinton Conclude Seventh Clinton Global Initiative University with 695 New Student Commitment to Action,” http://www.clintonfoundation.org/press-releases/president-clinton-former-secretary-state-hillary-rodham-clinton-and-chelsea-clinton

[2] Wheaton College, News & Events, “It Takes a Village,” http://wheatoncollege.edu/news/2014/04/01/takes-village/

[3] United World Colleges, Alumni Initiatives, “Sustainable Fish Farming Bringing new hope to Villages in Nepal,” http://www.uwc.org/our_impact/alumni_initiatives/clinton_global_initiative_university_cgi_u/sustainable_fish_farming.aspx

MicroCapital, February 26, 2014, “Philippine Government Launches $20m Facility to Offer Microloans Up To $7k for Farmers, Fishermen,” https://www.microcapital.org/microcapital-brief-philippine-government-launches-20m-facility-to-offer-microloans-up-to-7k-for-farmers-fishermen/

MicroCapital, October 1, 2013, “9th Annual Clinton Global Initiative (CGI) Participants Commit to Advancing 15,000 Women-owned Businesses by 2018,”   https://www.microcapital.org/microcapital-brief-9th-annual-clinton-global-initiative-cgi-participants-commit-to-providing-services-to-15000-women-owned-businesses-by-2018/

MicroCapital, September 28, 2012 ,”8th Annual Clinton Global Initiative: Commitments to Financial Access, Global Citizen Awards Presented,” https://www.microcapital.org/microcapital-brief-8th-annual-clinton-global-initiative-commitments-to-financial-access-global-citizen-awards-presented/

MicroCapital, September 29, 2011, “Swiss Re Commits to Offering Cholera Insurance in Haiti and Crop Insurance in Senegal, Clinton Global Citizen Awards Announced at CGI Annual Meeting,” https://www.microcapital.org/microcapital-brief-swiss-re-commits-to-offering-cholera-insurance-in-haiti-and-crop-insurance-in-senegal-clinton-global-citizen-awards-announced-at-cgi-annual-meeting/

MicroCapital, September 21, 2011, “Clinton Global Initiative (CGI) 2011 Annual Meeting Occurring on September 20 – 22 Includes Haiti Investment Workshop,” https://www.microcapital.org/microcapital-brief-clinton-global-initiative-cgi-2011-annual-meeting-occurring-on-september-20-%E2%80%93-22-includes-haiti-investment-workshop/

MicroCapital, October 14, 2010, “At Clinton Global Initiative, Omidyar Network Commits to Investing $55m in Technology that Supports Government Transparency and Financial Access through Mobile Technology,” https://www.microcapital.org/microcapital-brief-at-clinton-global-initiative-omidyar-network-commits-to-investing-55m-in-technology-that-supports-government-transparency-and-financial-access-through-mobile-technology/

MicroCapital, May 12, 2010, “Students Make Commitments to Microfinance At Third Annual Clinton Global Initiative University (CGI U) Meeting in Miami, Florida,”
https://www.microcapital.org/microcapital-brief-students-make-commitments-to-microfinance-at-third-annual-clinton-global-initiative-university-cgi-u-meeting-in-miami-florida/

MicroCapital Universe Profile: Clinton Global Initiative: http://microcapital.org/microfinanceuniverse/tiki-index.php?page=Clinton+Global+Initiative+%28CGI%29

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Chikondano Faith joined MicroCapital after holding various rolse at a commercial bank, where she improved and diversified her skill set by exploring many banking functions including: trading, treasury management, credit analysis and business development. She developed an interest challenges faced by entrepreneurs in emerging economies after taking up a small business development and entrepreneurship course during her undergraduate studies at the University of Pretoria in Pretoria, South Africa. She holds also Masters degree in Strategic Management from the University of Derby, her independent study topic focused on strategies to support Small and Medium Enterprises (SMEs) in Malawi. In working with MicroCapital, she hopes to expand her knowledge of microfinance and to use this internship as a foundation to pursue a career in micro and developmental finance. Chikondano Faith enjoys travel, drawing, jazz music, and improving her French during her spare time.