The United States Agency for International Development (USAID) and Western Union today announced that the application deadline has been extended for the African Diaspora Marketplace (ADM), a business development program that will support U.S.-based African diaspora in creating plans for sustainable businesses in Sub-Saharan Africa. Proposals for the ADM, which was launched last month, will now be accepted through July 30, 2009. Finalists will be announced in October 2009 and winners will be announced in January 2010 in Washington, D.C. Awards will be administered by the Academy for Educational Development (AED).

Between 10 and 20 qualifying entrepreneurs will each receive US$50,000 to US$100,000 to match their own funds to support the execution of their business plans. These grants will be awarded from the initial ADM pool of nearly US$1.5 million, financed jointly by USAID, the Western Union Company and the Western Union Foundation, as well as through Western Union Agents Ecobank Transnational, Inc. in Africa and Irv Barr Management in the United States. Additionally, individuals in the United States can contribute to the ADM grant pool by visiting any participating Western Union Agent location. The deadline for individual contributions has also been extended to July 30, 2009. Donations can be sent through the Western Union� Quick Collect� service free of charge to the Academy for Educational Development (AED) account during this period of time by using Quick Collect Subscriber Name: AFRICAN DIASPORA MARKET PLC, and Quick Collect Code City Name: AFRICANDIASPORA, DC; it should be noted that the transaction limit is a maximum of $5,000 per transaction.

�USAID believes that the fight against poverty in Africa is largely a fight against unemployment,� explained Alonzo Fulgham, Acting Administrator, USAID. �The African diaspora is a deeply committed, yet largely untapped, source of innovative, entrepreneurial solutions to poverty and economic development in Africa.� Added Fulgham, �We are very excited by the tremendous response to the initial Call for Proposals.�

�Western Union believes in the power of diaspora communities to foster positive change by supporting their home communities through remittances and direct investment,� noted Luella Chavez D'Angelo, President, Western Union Foundation.

A selection committee will review initial proposals and identify qualifying applicants who will be requested to submit a comprehensive business plan for evaluation. Finalists will receive information on a range of business tools and resources, including credit and debt markets, to increase the number of enterprises that can be brought to life, regardless of whether they are selected for grant funding.

There will also be a two-day event in Washington, D.C., in January 2010, where finalists will present their completed business plans before a review panel consisting of business experts and leaders from the Diaspora community, USAID, other development institutions and private sector companies. The panel will evaluate final business plans and select grant recipients based on criteria that include the business idea and management framework, prospects for sustainability, capacity to leverage diaspora resources and results orientation.

The ADM will facilitate access to technical assistance, as available, capacity building and information on a range of financing options for all finalists. Proposals must be implemented in one of the following Sub-Saharan African countries where USAID has both on-the-ground presence and potential technical assistance programs for entrepreneurs: Angola, Burundi, Ethiopia, Ghana, Kenya, Liberia, Malawi, Mali, Mozambique, Namibia, Nigeria, Rwanda, Senegal, Sierra Leone, South Africa, Sudan, Tanzania, Uganda and Zambia.

To participate, candidates must meet the following criteria, among others:

  • Must be a member (or members) of the Sub-Saharan African diaspora living in the United States as a U.S. citizen or permanent resident;
  • Must have a local partner in the country of implementation;
  • Grant funding requests should not exceed US$100,000 and should not be less than US$50,000; and
  • Must have available funding in at least the amount of the matching grant.

For more information about ADM and a full list of eligibility requirements or information on how to contribute to the ADM grant pool, visit www.diasporamarketplace.org.

About USAID

The U.S. Agency for International Development has been the lead U.S. Government Agency providing economic development and humanitarian assistance to people around the world for more than 40 years. The agency�s Global Development Alliance (GDA) links U.S. foreign assistance with the resources, expertise and creativity of the private sector as well as nongovernmental organizations. Since its launch in 2001, the Global Development Alliance has changed the way U.S. international development projects are financed and implemented. USAID has cultivated more than 900 public-private alliances with over 1,700 individual partners to leverage significant resources for development. For more information about USAID and its programs around the world visit www.usaid.gov. For more information on Global Development Alliances visit www.usaid.gov/gda/index.html.

About Western Union

The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta and Pago F�cil branded payment services, Western Union provides consumers with fast, reliable and convenient ways to send and receive money around the world, as well as send payments and purchase money orders. Western Union, Vigo and Orlandi Valuta operate through a combined network of more than 379,000 Agent locations in 200 countries and territories. Famous for its pioneering telegraph services, the original Western Union dates back to 1851. For more information, visit www.westernunion.com.

About the Western Union Foundation

Through Western Union�s Our World, Our Family� signature program, the Western Union Foundation supports initiatives to empower individuals, families and communities through access to better education and economic opportunity. Recognized by the Committee Encouraging Corporate Philanthropy in 2009, the program is a five year, $50 million commitment reflecting the efforts made by Western Union employees, Agents and partners around the world. Since its inception, the Western Union Foundation has awarded almost $55 million in grants and disaster relief to over 1,870 nongovernmental organizations (NGOs) in 100 countries. For more information, visit http://foundation.westernunion.com.

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