Unprecedented surge in these programs seen in 2020, World Bank report says
WASHINGTON, Jan. 26, 2021 – Economic inclusion programs, which help boost income and assets of the world’s poorest, are on the rise in 75 countries, reaching approximately 20 million poor and vulnerable households, and benefitting nearly 92 million individuals. This surge comes at a crucial time, as more than 700 million people around the world face extreme poverty, a number on the rise for the first time in two decades.
According to the World Bank’s newly published “State of Economic Inclusion (SEI) Report 2020: The Potential to Scale,” economic inclusion programs -usually a combination of cash or in-kind transfers, skills training or coaching, access to finance, and links to market support- are fast becoming a critical instrument in many governments’ large-scale anti-poverty strategies. And they are likely to continue, especially in areas affected by conflict, climate change, and shocks, due to
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Today the Wall Street Journal reported that President Biden is expected to nominate Michael Barr to the role of Comptroller of the Currency at the OCC, one of the main banking regulators. He was previously on the advisory board of Ripple. Barr will replace Acting Comptroller Blake Paulson, who took over the role last week from Brian Brooks, former Chief Legal Officer at Coinbase, who held the OCC position in an acting capacity for eight months.
Barr is no longer with Ripple, which is currently being sued by the SEC, which asserts that the XRP cryptocurrency is a security.
Tawanna Black, founder and CEO of the Center for Economic Inclusion. PHOTO BY CAROLINE YANG
Center for Economic Inclusion Lands $1M Grant from U.S. Bancorp The St. Paul nonprofit aims to use the funds to boost Black and Indigenous employment in the region. Tawanna Black, founder and CEO of the Center for Economic Inclusion. PHOTO BY CAROLINE YANG
Minneapolis-based U.S. Bancorp is stepping up its commitment to the Center for Economic Inclusion, a St. Paul nonprofit focused on improving equity in the Twin Cities metro.
On Tuesday, the center announced that it has received a $1 million grant from U.S. Bancorp to help boost Black and Indigenous employment in the metro. The nonprofit’s goal is to increase jobs for Black and Indigenous people in the area by 10 percent over the next five years, according to a news release.
U.S. Bancorp makes biggest gift to Center for Economic Inclusion Money will boost efforts by Center for Economic Inclusion to increase minority employment. January 20, 2021 12:03pm Text size Copy shortlink:
U.S. Bancorp will make a $1 million grant to help the Twin Cities-based Center for Economic Inclusion increase Black and American Indian employment in the region.
The move adds to an effort announced by the Minneapolis company, which runs U.S. Bank, of $100 million in additional credit to Black-owned businesses and related grants that was announced last summer after the police killing of George Floyd.
The grant is the largest in the center s three-year history and comes after one of $500,000 that U.S. Bancorp made in 2019. The center collaborates with businesses, government, nonprofits, community colleges and nonprofits to focus on inclusive growth.
taquerias and passed out 8,000 flyers, all toward a single goal: to increase construction opportunities for Hispanic contractors in southwest Detroit.
Major projects worth billions, such as the redevelopment of Michigan Central Station and construction of the Gordie Howe International Bridge, along with related I-75 work, are taking place in the neighborhood that has the largest Latino community in Michigan.
Yet studies showed that few of the skilled workers who live in and around Mexicantown are employed on those projects or have other wider industry connections.
Since 2019, at least 140 contractors in the area have responded to Espinosa’s efforts to build the Michigan Hispanic Contractors Association (MI-HCA). The group connects independent contractors and small construction companies with jobs, creating economic development in southwest Detroit, where the per median household income is $30,888, compared to the Michigan average of $57,144.