Can Corporate Sustainability & Economic Growth Coexist?
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ATLANTA, Mar. 22 /CSRwire/ - Today, the U.S. Agency for International Development (USAID) and The Coca-Cola Company announce an additional joint investment of US$12.7 million in their global partnership, the Water and Development Alliance (WADA). Through this investment, WADA will support eight new multi-year programs throughout sub-Saharan Africa in Angola, Burundi, Ghana, Malawi, Mozambique, Senegal, South Africa, and Tanzania. These programs will begin as 3-year initiatives, representing a shift toward longer-term efforts and exemplifying each organization's shared commitment to lasting, sustainable solutions to global water challenges. With this new investment, USAID and The Coca-Cola Company will have committed a total of $28.1 million since 2005 to support 32 projects in 22 countries worldwide in Africa, Latin America, the Middle East, and Southeast Asia.
Water scarcity, degraded water quality, and lack of basic water and sanitation services present severe global challenges, especially to the world's poor. More than one billion people live without access to safe drinking water, and 2.6 billion people have no access to basic sanitation. The growing water shortage impedes human needs for food and economic activity and threatens the sustainability of communities and critical ecosystems. USAID and The Coca-Cola Company established WADA to help tackle these enormous challenges.
USAID Administrator Rajiv Shah emphasized the importance of the public-private partnership: "As it enters its fifth year, USAID's partnership with Coca-Cola showcases the potential of the U.S. Government to partner with the private sector to make a long-term impact on pressing global challenges. By matching USAID's development expertise with the resources, capacities, and commitment of The Coca-Cola Company, we are making a positive impact on community water issues throughout the developing world."
Working with local partners in each country, WADA has addressed a myriad of local water challenges, helping more than 300,000 people gain access to sustainable sources of water for health and livelihoods.
"We recognize that no single organization can solve the global water crisis, but by partnering with organizations like USAID we can make a positive difference in the lives of the people in need of safe water and sanitation," said William Asiko, President of The Coca-Cola Africa Foundation.
WADA focuses on four objectives: watershed management, water supply and sanitation, hygiene promotion, and productive water use. The partnership capitalizes on the strengths and experience of its partner institutions, USAID, The Coca-Cola Company, and the Global Environment & Technology Foundation, which work collaboratively to demonstrate how government, business, and the non-governmental community can innovatively engage to solve global water challenges.
For more information on WADA, visit:
About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is the world's largest beverage company, refreshing consumers with more than 500 sparkling and still brands. Together with Coca-Cola®, recognized as the world's most valuable brand, the Company's portfolio includes 14 billion dollar brands, including Diet Coke®, Fanta®, Sprite®, Coca-Cola Zero®, vitaminwater, Powerade®, Minute Maid®, Simply® and Georgia® Coffee. Globally, we are the No. 1 provider of sparkling beverages, juices and juice drinks and ready-to-drink teas and coffees.
Through the world's largest beverage distribution system, consumers in more than 200 countries enjoy the Company's beverages at a rate of 1.6 billion servings a day. With an enduring commitment to building sustainable communities, our Company is focused on initiatives that protect the environment, conserve resources and enhance the economic development of the communities where we operate. For more information about our Company, please visit our web site at www.thecoca-colacompany.com.
United States Agency for International Development (USAID) is an independent federal government agency that receives overall foreign policy guidance from the Secretary of State. Our work supports long-term and equitable economic growth and advances U.S. foreign policy objectives by supporting economic growth, agriculture and trade, global health, democracy, conflict prevention and humanitarian assistance. USAID provides assistance in five regions of the world: Sub-Saharan Africa, Asia, Latin America and the Caribbean, Europe and Eurasia, and the Middle East.
With headquarters in Washington, D.C., USAID's strength is its field offices around the world. We work in close partnership with private voluntary organizations, indigenous organizations, universities, American businesses, international agencies, other governments, and other U.S. Government agencies. USAID has working relationships with more than 3,500 American companies and over 300 U.S.-based private voluntary organizations.
NOTE TO EDITORS: Media can retrieve digital photos to accompany this story by visiting our Press Center Image Gallery at www.thecoca-colacompany.com.
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