Boston, MA 06/11/2014 (wallstreetpr) – Chevron Corporation (NYSE:CVX), a leading US energy company engaged in oil exploration and supply has recently announced its decision to increase its donations to the NDPI Foundation.
The company is in partnership with Niger Delta region since 2010. The partnerships have resulted in economic development as well as improvement of civil society institutions.
NDPI is a foundation that works with local organizations with an aim to reduce poverty and conflicts in the Niger Delta region.
Chevron has decided to grant additional $40 million in the social projects over a period of five years for the purpose of portfolio’s expansion. The total investment in the social projects under NDPI amounts to $90 million.
The working of any business is directly related to economic prosperity, continuous development of the area along with peaceful co-existence.The partnership signifies Chevron Corporation (NYSE:CVX)’s approach towards the social investment. Also with such a huge grant, company has set an example for others as how the private sector can promote strong and stable communities across the world.
Outcomes of previous initiative
About 10K people have already been benefited since 2010. It has created employment for more than 600 people. It has also given its helping hand to about 100 local businesses. Also, about 5,500 local community members along with development practitioners have been trained. 172 local organizations have also come forward to join the initiative and help in the development and implementation of the projects.
Chevron grants boost NDPI
NDPI will be assisted by the funds from Chevron Corporation (NYSE:CVX) and other donors to address the cause of the problems as poverty and conflict in the region through its programs and partnerships.
Still, the region needs to be developed. The new funding will help to improve the quality of life and will bring prosperity in the region. NDPI is looking for partners from both public and private sectors for continuous development of the region.