On
September 24, 2008, Olam Nigeria Limited, a private sector partner
of the United States Agency for International Development (USAID),
received the 2008 World Business and Development Award (WBDA). This
award was also presented to nine other recipients during the United
Nations General Assembly in New York City. Olam Nigeria was selected
by the United Nations Development Program (UNDP) as a winner for
demonstrating a clear linkage between core business practices and
the contribution the project makes to achieve the Millennium Development
Goals.
In 2006, USAID/Nigeria formed a public-private partnership
with Olam Nigeria to promote commercial agriculture development
through the USAID Maximizing Agricultural Revenue and Key Enterprises
in Targeted Sites (MARKETS) activity managed by Chemonics International.
Olam Nigeria Limited is a global leader in supply chain management
of agricultural products and food ingredients. The Olam-Chemonics-USAID
partnership has provided over 10,000 farmers with secure markets,
high quality inputs, access to commercial finance, and technical
assistance to produce high quality rice. It has also increased rice
farmers’ yields by 175% and their net incomes by more than
230% between 2006 and 2008. This has contributed to the realization
of the first Millennium Development Goal: to eradicate extreme poverty
and hunger. The joint venture also developed a business approach
towards food security which can be used as a model for other commodities
and in other countries.
WBDA is supported by the International Chamber of
Commerce, UNDP and International Business Leaders Forum, in association
with the Corporate Responsibility Initiative, Kennedy School of
Government, the U.K. Department for International Development (DFID)
and the Financial Times.
Representatives
from USAID, Chemonics International and Olam Nigeria Limited attended
the ceremony which took place on the eve of a high-level meeting
on Millennium Development Goals hosted by the United Nations Secretary
General.

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Last Updated
on:
March 05, 2009
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