PD2014 FFD_FUND_PROJECT Draft 9-2

DRAFT SUMMARY

United Nations, New York, NY 10017 19 September 2014

Original: English

2014 World Forum on the Diaspora Economy—Conference to be held at the United Nations on September 19 2014 ahead of the annual Week of the General Assembly and to become a partner of the Financing for Development movement.

Developer: Xen Pi Capital Investments

Harvey Dupiton Executive Secretary

777 UN Plaza, New York, NY 10017

The Financing for Development Business Advisory Group

Contact by email:

[email protected]

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Promoting Initiatives from B u s i n e s s

In Support of United Nations Financing for Development

Submi t ted to Government

Au thor i ty

Project Status

f i e ld exper ts

Technology, Industry Sector Analysts, Investment Analyst, Economics, Legal, Media, Corporate Finance and Accounting, International Policy, Governance.

growing FfD

UN-BUSINESS MONTHLY: D RA F T F OR GENERA L D IS C US SI ON A T P REP 1

Membership opportunity for the Business Leadership

Commission. This privilege will allow you to lend your influence

and advice to the international community on the broad issue of

Financing for Development and our work on “Diaspora Economy

Investing”- a new field of investment to be introduced at the

conference.

Collaborative opportunity in the Financing for Development

Fund Project. We are looking for Project Development Partners,

Affiliates, Strategic Partners, Solution Providers, Consultants and

Project team leaders from a wide range of expertise:

market ing

Domestic Markets (US), North

America, Emerging Markets, Asian

Markets, Latin America and the

Caribbean, Africa and the Middle East,

Western Europe, Eastern Europe and

the Pacific.

i ndus t ry

Telecom Wireless & International Payments, Ecommerce

& Social Media, Banking and Financial Services, Food

Services & Global Consumer Goods, Real Estate

Development and Tourism, Media and Entertainment,

Energy, Public Infrastructure, and Bonds

PREFACE

The five year-old (plus two) process of global campaign, information gathering, private sector consultations and partnership-building led by Xen Pi Co. & Associates in conjunction with the Financing for Development Business Advisory Group that paved the way for the creation of the Financing for Development Fund Project was motivated by the Diaspora Economy initiative launched at the United Nations since 2009. The process benefited from the input of many over the span of time.

The author would like to thank the following people for their guidance and comments in the drafting of this paper. Countries involved at the United Nations either in the World Forum on the Diaspora Economy or Word Telecom Day of earlier years, included Benin, Liberia, Dominican Republic, Yemen, Iraq, Guyana, Serbia, Ethiopia, Turkey, Finland, Haiti, Guinea Bissau, Indonesia, Egypt, Romania, India, Ukraine, Israel, Kenya, Philippines, Guatemala, Nigeria, Bahrain, Barbados, Trinidad & Tobago, U.S, Pakistan, South Africa, Croatia, the African Union (AU). Also from the United Nations have been the Office of the President of the General Assembly, the President of G77, the Group Chair on the Least Developed Countries (LDCs), the Office of the Special Advisor on Africa, UN Global Compact, the ITU, UN-GAID, UNCTAD, UNCDF, IOM. Elsewhere, Charles Blitzer (Worldbank IFC), Mamadou Toure (Worldbank), Sarbuland Khan, Consultant UNWTO, Carlos Corraza (World Bank), Dilip Ratha (World Bank), Stephany Griffith Jones (Columbia University SIP), James T. Lap (Columbia University), Gary Bolles, Microcast/ Xigi, David Leblang (University of Virginia), Richard Ottoo (Pace School of Finance), Heather Hudson (University of San Francisco), Mike Collins (Texas A&M University), Hugh Fox (New School for Social Sciences and Research), Teboho Moja, New York University, Alex Rias, NYC Black Latino Asian Caucus, Toni Symonds, California State Assembly, South South News, Jacques Dussek, NTS News, Diego Molano Vega, Telefonica, Adrian Van Meerbeeck, NTT DoCoMo USA, Lawrence Codacovi (former MCI), Randolf St Leger, Cognitre, Susanna Groves, Migration Policy Institute, Edward Bergman, Africa Travel Association, Anushay Said, difrent, Frances Ndika, UN-NGO, Frantz Reid, Law Offices of Reid & Associates, Richard Lefave (former Sprint), Sujit K. Verma, (former) State Bank of India, Frederic Bijou, Multi-lateral Diplomacy Consultant, Jose Manuel Mendoza, Consultant, Clovis J Baptista (Inter-American Telecommunications Commission), Rose Sager, Embassy of the Kingdom of Bahrain, Daniel Schwartz, former Government of Israel’s Director of Investment, Irma Loemban Tobing-Klein, (former) UN Ambassador, MDG Global Watch, Emmanuel Goued Njayick, (former head of Africa office) United Nations, Ria Burgess, Academia, Delois Blakely, New Future Foundation, Wallace Ford, Ford Works & Associates, Darly Coupet, TSGI, Joyce Moy, CUNY Asian American/ Asian Research Institute, Nakul Rege, The Bankai Group, Sybil Reymundo-Santiago, Soho Film Festival, Oliver Oscar Mbamara, Attorney and Film-maker, Yves Joseph, Tabou Combo, Carlyle McKetty, Coalition for the Preservation of Reggae, Lorli Villanueva, Touro College, Oscar de Rojas (former head of the UN FfD Office), Patrick Beckford & Lisa Soares, (US-North East Jamaica Diaspora), Wale I. Ajibade, African Views, Pat Jennings, Nia Collective, Tamar Roth-Drach, (former) Government of Israel, Staci Alziebler-Perkins, (former) World Federalist Movement Institute, Sophony St Cloud Lamour, UN-NGO, Nakul Rege, The Bankai Group, Antonio Castillo Holgado, Telefonica, NY CEO State Bank of India, Vijay Chemuturi, KPMG, Allison McEachron, Business Council for the United Nations, Joy Elliott, (Retired) Reuters, Matt Le-khac, An Choi, Lawanda Kamara, KIA Intl, Isaiah Chabala, (former UN Ambassador), Anand Radhakrishnan, Investcorp, Richard Jordan, UN-NGO, Tequila Minsky, Photographer, Writer, Judith O’Neill, Greenberg Traurig (former), PT Tan, Greenberg Traurig (former), Greg Makoff, Citigroup Global Markets, Muriel Glasgow, MG Associates, Oumar Diaw Seck, Artist.

SPECIAL ACKNOWLEDGEMENT

Special thanks and gratitude to His Excellency, Jean Francis Zinsou, Permanent Representative of Benin to the United Nations and Group Chair of the Least Developed Countries for his steadfast support of the forum since its inception in 2009.

COVER IMAGE

Pat Jennings | nia.collective | Shutterstock.com

DISCLAIMER

The views expressed in this publication are those of the authors and do not necessarily represent those of the institutions to which they are affiliated or the United Nations or its Member States.

CONTENTS 1.0 BACKGROUND ....................................................................................................................................................................................... 5

1.1 UNITED NATIONS REMAKING HISTORY ........................................................................................................................................................ 5

1.2 CLOSING THE FINANCING FOR DEVELOPMENT GAP ......................................................................................................................................... 5

2.0 STRUCTURE OF PROJECT ....................................................................................................................................................................... 7

3.0 CREATION OF THE FINANCING FOR DEVELOPMENT FUNDS ................................................................................................................. 8

4.0 ORGANIZATION OF THE FINANCING FOR DEVELOPMENT FUND - SUPPORT PROJECT ........................................................................ 10

5.0 STRATEGY OF COOPERATION OF THE FUND ....................................................................................................................................... 10

6.0 THE LEAD INVESTMENT PROJECTS OF THE FFD-DIASPORA ECONOMY INVESTING FUND ................................................................... 10

The Financing for Development Global Investment Fund DRAFT SUMMARY

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1.0 BACKGROUND

1.1 UNITED NATIONS REMAKING HISTORY

The Financing for Development Agenda (FfD) at Present and Beyond 2015

In 2002 the United Nations made history. World governments in participation with the World Bank, the

International Monetary Fund and the World Trade Organization cemented a partnership between developed

and developing countries adopting the “Monterrey Consensus on Financing for Development (FfD)”.

From the perspective of an international policy initiative, the Monterrey Consensus represented a defining

moment in international economic cooperation on principles regarding trade, aid, debt, private cross-border

investment, international financial architecture and domestic fiscal management and resource mobilization. It

demonstrated the international community’s collective strength as well as its clear understanding of how to

enhance and mobilize resources to address the financing for development gap that affects many countries.

2015 being the international community’s target date to achieve past objectives and forge a new vision beyond

with an emphasis on job creation, income equality and inclusive growth, the decision was reached by the

Financing for Development Business Advisory Group at its 2013 World Forum on the Diaspora Economy to

launch a global investment on Financing for Development.

1.2 CLOSING THE FINANCING FOR DEVELOPMENT GAP

Several factors in 2013 made the decision for a global investment fund on FfD timely:

i) The new impetus to place Economic Development and Job Creation at the heart of national

development goals.

ii) Three Pillars of challenge and opportunities having been identified as key to the future of Financing for

Development We All Want (across regions):

Public Infrastructure Development : A core requirement of all societies.

Renewable Energy Investing: Driven by the Sustainable Energy for All (SE4ALL) initiative of the Secretary

General of the United Nations launched in 2011.

Diaspora Economy Investing: A new model for economic development, developed by Xen Pi Co. &

Associates in the interest of countries North and South, sharing the interest of growing population of

immigrants and their (transnational) purchasing power as a global consumer.

iii) A fast closing window of opportunity before 2015 to engage countries signatory to FfD into collective

and concerted action on the three pillars.

iv) Our core asset to leverage the cumulative strength of the United Nations and its network of

governments, the Multi-lateral Development Banks (MDBs), to create Public Private Partnerships that

cut across sectors, industries and constituencies.


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Fig.1 | Key to Future of Financing for Development: Three Pillars have been identified

Public Infrastructure Development

A core requirement of all societies

Renewable Energy InvestingDriven by the Sustainable

Energy for All (SE4ALL) initiative of the U.N. Secretary

General

Diaspora Economy InvestingA new model for economic

development, developed byXen Pi Co. & Associates

CHALLENGES AND OPPORTUNITIES


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2.0 STRUCTURE OF PROJECT

Fig. 2 | Goals: Mobilize International Private Flows, Foreign Direct Investments and Domestic Financial Resources

The diagram above shows overall plans under the FFD-Fund Project to mobilize constituencies behind the

development of a family of funds or a series of funds targeting investments in three principal areas identified as

key to bridge the financing gaps in: Public Infrastructure, Renewable Energy and the Diaspora (Consumer)

Economy.

Though not shown in the diagram, implementation of the FFD-Fund Project will be carried out by two principal

organs: A University-funded Program at a Partner Institution and an Investment Company.

Financing for

Development Fund

Fund IDiaspora Economy Investing

P R O J E C T S

Fund II

Public Infrastructure Fund III

Renewable Energy

I N V E S T O R S / BONDS

Business Leadership Commission Government Leadership

Affiliates Development Cooperation Partners

Board of Advisors Assembly of Governors


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3.0 CREATION OF THE FINANCING FOR DEVELOPMENT FUNDS

(as shown in Figure 3)

FUND I IS AN FFD-DIASPORA ECONOMY INVESTING FUND. The upcoming 2014 World Forum on the

Diaspora Economy on September 19 2014, in brief, will discuss the economic benefits of a fund to be launched

within the year with a set target of $ US 2 billion at launch time.

The fund shall have two main points of presence in two major-host countries (North-America & the Western

Europe) interacting with country fund and investors based in Diaspora countries of origin covering Asia, Eastern

Europe, Latin America, the Middle East, and Africa.

FUND II IS AN FFD-PUBLIC INFRASTRUCTURE FUND. Negotiations are taking place to establish the fund as

product of the Financing for Development Fund family of funds.

FUND III IS AN FFD- RENEWABLE INVESTING FUND. Also in negotiations to integrate the Renewable Energy

Investing fund as a complement of the Financing for Development family of funds.

MANAGEMENT OF THE FUND. An investment company is being organized as a joint venture to pool

investments behind the Financing for Development Funds. Xen Pi Capital Group, having a specific interest in

the Diaspora Economy Investing Fund is responsible for promoting and procuring global partners to be involved

in the venture. The company will be assisted by a Board of Directors and Advisors acting as a steering body.

PROJECT CONSULTING. Refers to Global Financial Services, Global Consumer Goods, Sovereign Debt, Project

Financing.

GOVERNMENT PARTICIPATION. The Funds shall be assisted by an Assembly of Governors composed of

government authorities who provide policy advice.


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Fig. 3 | Activities That Can Be Supported by Financing for Development Funds


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4.0 ORGANIZATION OF THE FINANCING FOR DEVELOPMENT FUND - SUPPORT PROJECT

The Financing for Development Fund - Support Project shall be organized initially as a funded program under the

fiscal responsibility of a partner academic institution.

Its main objectives:

Sustain the international campaign on Financing for Development.

Encourage policy and research collaboration.

Support the work of a Business Leadership Commission currently being formed.

5.0 STRATEGY OF COOPERATION OF THE FUND

The Fund will cooperate with country funds as well as state-owned or private entities. Partnership will be

developed with UN agencies ( UNU, UNDP , UNESCO, UNWTO, ITU, ILO, UNWOMEN, UNCTAD/UNIDO, UNCDF)

to establish programs on the ground that enhance development objectives in the areas of SMEs, Women

Economic Empowerment, Community Cooperation, Universal Connectivity and Access, Universal Education,

Vocational Education.

6.0 THE LEAD INVESTMENT PROJECTS OF THE FfD-DIASPORA ECONOMY INVESTING FUND

Three areas of Public-Private Partnership Opportunities have been identified as Lead Investment Projects of the

Fund.

Targeting telecom, FfD plans to build infrastructure channels linking countries and people to a

Universal Service network serving as an entry point to other types of global financial services.

Targeting the Creative Industry, FfD has plans for a multi-stakeholder collaboration to export diverse

countries’ music and films.

On the drafting board still are plans for Tourism destinations custom-tailored to the needs of the

market.

Industry Sector coverage: Cellular, satellites, cable, ICT, banking, private equity, agriculture, media,

entertainment, social media, e-commerce, real estate, tourism, consumer goods, retail and financial services,

Transportation: multi-modal and transport services, port terminals, roads, and airports, Water, Sanitation and

Environmental Services.


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Diaspora Economy Investing

A new model for economic

development, developed by

Xen Pi Co. & Associates

in the interest of countries

North and South, sharing

the interest of growing

population of immigrants

and their (transnational)

purchasing power as a

global consumer

Public Infrastructure

Investing

A core requirement of all

societies—Roads, Port

Systems, Electricity,

Universal Service, Water,

Sanitation,

Communications, Housing

Renewable Energy Investing

Driven by the Sustainable

Energy for All (SE4ALL)

initiative of the Secretary

General of the United

Nations launched in 2011

Promoting Initiatives from Business in support of the United Nations Financing for Development Agenda

Please provide comments and recommendations for future updates to this strategic plan to:

Mr. Harvey Dupiton, Exec. Secretary

777 UN Plaza, New York, NY 10017

The Financing for Development

Business Advisory Group

Tel: +1 (650) 681-9336

Website:

www.financingfordevelopment.com

email:

[email protected]

Documents

PD2014 FFD_FUND_PROJECT Draft 9-2