FROM THE PRESIDENT

Dear IGD friends and supporters,

This past quarter, IGD has made significant progress in promoting U.S. foreign assistance reform,  agricultural development and investment in frontier markets. IGD has worked with business leaders from Africa and the United States to provide input and join discussions on the role of the private sector in development

IGD and Brookings co-presented a panel discussion in May on the role of private investment in development, featuring Frontier 100 members Tim Solso and Justin Chinyanta and Millennium Challenge Corporation CEO Daniel Yohannes. In June, IGD co-hosted a dinner event with the Business Roundtable featuring Leadership Council Co-chair Colin Powell. Twenty-six CEOs including IGD Leadership Council members Tim Solso, Terry McGraw and John Castellani attended for an engaging conversation about the role of business in global poverty reduction. Several CEOs agreed to join IGD's Leadership Council as a result of the dinner.

On the agricultural development front, IGD hosted a roundtable in Washington D.C., a conference call with African CEOs, numerous focused discussions with U.S. and European agribusinesses, and planned specific activities over the next six months to advance public and private investment in agriculture in Africa.

Frontier 100 held a very successful forum in Dakar, Senegal, which strengthened the focus on facilitating CEO networking to drive investment in Africa. Frontier 100 will next be hosting an investor forum this fall in New York City to improve investor perceptions of Africa and welcome the next class of CEOs to the Frontier 100 network.

IGD recently collaborated with the Modernizing Foreign Assistance Network (MFAN) on the Reform Within Reach campaign, which called on President Obama to follow through on his commitment to foreign aid reform. Thirty-eight members of our Board and Leadership Council signed the MFAN open letter to the President.

The new IGD blog is a great way to stay connected and informed about IGD's work.

Thank you for your continued support.

Best regards,
Jennifer Potter, IGD President & CEO

NEVILLE ISDELL: TAKE A FRESH LOOK AT AFRICA
On August 2nd, Neville Isdell, IGD Leadership Council member and former Coca-Cola CEO, identified Africa as the “single best place to invest” in an interview with Erin Burnett on CNBC's Street Signs.

“Take a Fresh Look at Africa,” an op-ed co-written by Neville Isdell and Frontier 100 member James Mwangi, was posted on CNBC’s CEO Blog, urging American business leaders to take advantage of significant growth opportunities in Africa.

INVESTING IN AGRICULTURE

IGD has expanded its agricultural development strategy with events and collaborations designed to increase public and private investment in Africa. The Obama administration has asked IGD to facilitate business input for the new Feed the Future initiative, which aims to accelerate inclusive agricultural growth and reduce chronic hunger. IGD is working with TransFarm Africa and African business leaders to provide policy recommendations and identify barriers-- such as specific African regulations-- that could be overcome to advance growth. Through Frontier 100, IGD is identifying specific investment opportunities in Ghana, Tanzania and Zambia that could be leveraged by U.S. government investments.

Recent Actions

• Roundtable discussion convening representatives from agribusiness companies and development experts to discuss ways to increase investment in food insecure regions
  
• Conference call with U.S. government officials and Frontier 100 CEOs about the role of the private sector in Feed the Future
  

POLICY UPDATE

IGD is increasing efforts to strengthen the business voice urging the Obama administration to modernize U.S. foreign assistance. The administration’s National Security Strategy, released in May, emphasized global poverty reduction and development, but a national Global Development Strategy and significant reform of the outdated Foreign Assistance Act of 1961 will be required to advance a comprehensive government-wide approach.An IGD-Oxfam business roundtable will be held August 11 in Indianapolis, featuring Congressman Mike Pence, Congressman Andre Carson and a discussion on the importance of improving the effectiveness of U.S. foreign aid.

Recent Actions

• Collaborated with the Modernizing Foreign Assistance Network (MFAN) to circulate an open letter urging President Obama to follow through on his commitments to foreign aid reform; thirty-eight members of the Board and Leadership Council signed onto the letter
  
• Participated in a Global Washington aid reform working group that culminated in the presentation of aid reform recommendations at a July event with Senator Cantwell and USAID’s Maura O’Neill
  

FRONTIER 100 UPDATE

After a highly successful Annual Forum in Dakar Senegal, Frontier 100 continues to engage CEOs to drive small and large scale investment in Africa. Frontier 100 is presenting a forum in New York City this fall featuring prominent investors to improve perceptions of investing in African markets. Participants will include multinational corporations and investors interested in increasing their investment allocation in Africa.

IGD is in the process of recruiting the next class of Frontier 100 CEOs and welcomes several new members: Frank Braeken, Executive Vice President, Unilever; Mathews Chikaonda, CEO, Press Corporation Limited; Pat Devenish, CEO, AICO Africa Limited; Murray Grant, Partner, Actis Capital LLP; Brian Herlihy, CEO, SEACOM; Vincent Le Guennou, CEO, Emerging Capital Partners (ECP) Private Equity; Naveed Riaz, CEO, African Division, CitiGroup; Anton Roux, CEO and Chairman, Aon South Africa/Sub-Sahara Africa; Ariff Shamji, Founder and Managing Director, AAA Growers; Oumar Sow, General Manager, Compagnie Sahelienne d’Entreprises; and Sev Vettivetpillai, CEO, Aureos Advisors Limited.

Recent Actions

• At the Annual Forum in April, CEOs engaged in a focused discussion about how the Frontier 100 network could most productively stimulate increased investment and business growth on the African continent
• Members met in Washington, D.C. around the International Finance Corporation’s (IFC) Private Equity conference in May to discuss strategy on how to influence U.S. investors to allocate more funding for African business

THE ROLE OF BUSINESS IN DEVELOPMENT

In May, as part of our ongoing effort to bring U.S. and African business voices to bear on development policy, IGD partnered with the Brookings Institution to convene a panel discussion, The Role of Business in Development: How Private Investment can Catalyze Economic Growth and Reduce Poverty. Panelists Chad Holliday, Frontier 100 member Justin Chinyanta, and IGD Board, Leadership Council and Frontier 100 member Tim Solso shared their perspectives on investing in frontier markets. Daniel Yohannes, CEO of the Milliennium Challenge Corporation, gave opening remarks and emphasized the MCC’s commitment to leveraging private sector engagement to promote economic growth and reduce poverty. Jennifer Potter provided an introduction to the discussion and Kemal Dervis served as moderator.

NETWORK NOTES

IGD welcomes new Leadership Council members: Gregory Case, President & CEO, Aon Corporation; William D. Green, Chairman & CEO, Accenture; Sheryl Sandberg, COO, The Facebook, Inc.; Dean A. Scarborough, Chairman, President & CEO, Avery Dennison Corporation; and Gregg Sherrill, Chairman & CEO of Tenneco Inc.

IGD is pleased to announce that Phyllis J. Campbell, Chairman, Pacific Northwest, JPMorgan Chase & Co. has joined the IGD Leadership Council and the IGD Board of Directors. Michael J. Phillips, Former Chairman & CEO, Russell Investments, also joins the IGD Board.

IGD is recognizing the contributions of William H. Gates Sr., one of the co-founders of IGD and a dedicated advocate for the organization. Over the past eight years, Gates has demonstrated an incredible commitment to global development and has strengthened IGD with his leadership and support. Gates is retiring from the Board, and will become IGD’s first Director Emeritus. He will remain involved with IGD as a member of the Leadership Council.