In Angola 2007/2008 - (Page 4) CORPORATE RESPONSIBILITY and the long-term reconstruction and development of Angola. This offer led to the establishment of the Angola Partnership Initiative, a special USD 25 million fund from Chevron Corporation intended to be leveraged with funding from other donors, such as the US Agency for International Development and the United Nations Development Program. To date, this fund has generated a portfolio of socio-economic projects totaling over USD 55 million and is expected to continue to grow, with additional funding provided by Chevron and other donor organizations. Chevron's Corporate Responsibility Strategy Both the Angola Partnership Initiative and the Community Engagement Program are structured around a framework of strategic objectives in support of improving access to health and education services, promoting sustainable economic growth, revitalizing agriculture, and strengthening institutional capacities. Some of the accomplishments realized in pursuing these objectives include: Chevron established a Corporate Responsibility Strategy aimed at contributing to the social development and economic growth of communities in Angola. The plan includes human capacity-building, stakeholder engagement, and sustainable programs that are aligned with community needs and priorities. The company seeks to be a catalyst for integrated social and economic improvements through the use of participatory approaches. The strategic vision of the company is to build capacity and self-sufficiency among communities, to increase their social and economic benefits, and to increase local participation in the company’s business operations. To achieve this vision, Chevron established a Community Engagement Program in partnership with Sonangol and other oil companies, including Total, ENI, and Galp Energia. For more than a decade, this program has provided assistance to surrounding communities and other key areas of need through a diverse range of projects designed to produce long-term socio-economic benefits. With the arrival of peace in Angola in 2002, Chevron’s chairman, Dave O’Reilly, met with President José Eduardo Dos Santos and offered the company’s support for the short-term humanitarian situation • a micro-finance bank, NovoBanco, which was • • • • • • established in 2004 and has since lent over USD 27 million to micro, small, and medium enterprises in Luanda and Benguela; the establishment, in Cabinda and Luanda, of the first two small business incubators in Angola; the facilitation of a range of public health improvements in Cabinda that have drastically reduced the rates of TB and HIV infection; the construction and rehabilitation of schools and clinics in needy communities in the provinces of Cabinda, Luanda, Huila, Benguela, Zaire, Malange, and Bie; assistance for over two million people in resettlement programs, which provided food, seeds, tools, and community revitalization projects in the provinces of Huambo, Bie, Kwanza Sul, Benguela, Huila, Moxico, and Kuando Kubango; an agribusiness program in Cabinda which produced over 700 tons of fresh produce for sale to the company and to local markets in Cabinda; more than tripling the student intake by the faculty of Agrarian Science at Chianga, which is also in the process of developing its own commercially viable farm. Recognizing a need in Angola for growth and rehabilitation, Chevron is committed to being a catalyst for long-term socio-economic development. 4
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