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UBS Optimus Foundation Enters Global Nutrition Initiative
Tom Burroughes
11 June 2013
UBS
Optimus Foundation, the philanthropic organisation that recently opened
an office in Hong Kong, announced today it is partnering with
government and private donors in a global initiative to put nutrition at
the centre of the development agenda.
The organisation plans to raise SFr65 million ($85.9 million) over
the next eight years and intends to “dramatically improve children's
nutrition, reduce stunting, and help prevent death from
under-nutrition,” according to a statement from UBS. The group joined other foundations ahead of this month’s Group of
Eight summit to sign an agreement to put nutrition among the highest
priorities on the development agenda. Preventable under-nutrition, the
statement said, causes the death of more than 8,000 children every day.
Among other effects, it is believed to cut African and Asian gross
domestic product by up to 11 per cent a year. At that meeting, the UBS Optimus Foundation said it will commit SFr15
million for nutrition-related projects in developing countries. In
addition, it agreed to contribute to a novel "Nutrition for Growth
Facility" announced during the June 8 meeting. All donations from UBS clients which the foundation directs to the
new facility will be doubled. Partners include the Children's Investment
Fund Foundation and the Canadian and UK governments. Double your money "In effect, the UBS Optimus Foundation is announcing a
double-your-money pledge drive and intends to raise up to 25 million
additional Swiss francs over the next eight years, which, through the
new agreement, will be matched by other funders to reach 50 million
Swiss francs over and above the Foundation's current commitment of 15
million. The funds will be used to expand priority, evidence-based
programmes; support innovations to deliver nutrition at scale; and
strengthen nutrition governance and monitoring and evaluation systems,"
said Jamie Broderick, chief executive, UBS Wealth Management UK. "The commitments made in London will have a significant impact on
child survival, and help more children achieve their full potential. We
stand at a historical threshold. The end of under-nutrition is
possible," said Phyllis Costanza, CEO of the UBS Optimus Foundation. Since its creation in 1999, the foundation has received more than
21,000 donations, raising SFr200 million to support more than 300
projects in 75 countries. It currently supports nutrition-related
projects in 18 countries including, Uganda, Kenya and China.