Canada’s Peace Dividend Trust among winners in G20 Finance Challenge
During the recent G20 summit held in South Korea, the social entrepreneur group Ashoka’s Changemakers created the G20 SME Finance Challenge in an effort to identify innovative organizations working to help small and medium-sized enterprises in the developing world receive funding.
According to the Financial Post, an Ottawa-based non-profit, Peace Dividend Trust (PDT) placed second among the people’s choice awards in the challenge. They were selected by voters who visited the Changemakers website and cast their picks for the best way to provide funding for third-world entrepreneurial endeavors.
Many people living in developing nations may be struggling to find financial footing for their businesses. Some seek out the help of family members living abroad who are able to send money online.
“One of the biggest challenges for such companies is to make sure that they receive the financing that they need,” President Barack Obama said at a ceremony for the winners of this event. “I am very pleased that we have been able through the G20 to launch this concrete program that is making a difference in people’s lives.”
He added that Canada, Korea and the U.S. will contribute $528 million to put some of the ideas presented at the challenge into place.