Walmart de Mexico Foundation Honored by World Business and Development Awards
Foundation Program Recognized for Work Supporting Millennium Development Goals
MEXICO CITY, Sept. 22 /PRNewswire/ -- The Walmart de Mexico Foundation has been honoured as a winner of the World Business and Development Awards 2010. The Foundation's Indigenous Product Commercialization Program was selected as one of ten winners, out of 170 initiatives submitted from around the world.
The Indigenous Product Commercialization Program offers training and funding to boost production processes of marginalized communities and indigenous groups living in isolated regions to improve their income and quality of life.
"It is an honor for the Walmart de Mexico Foundation to receive this award acknowledging its vision, innovation and contribution towards sustainable development," said Raul Arguelles, Senior Vice President of Corporate Affairs, Walmart de Mexico y Centroamerica. "One of the core business practices of Walmart de Mexico y Centroamerica is engaging with domestic suppliers to support national economies. In 2009, 95 percent of the items sold in our stores were bought in Mexico – including products from the communities participating in the Indigenous Product Commercialization Program."
Communities ready to merchandise their products are provided with transportation, logistical and distribution support, as well as preferential space at Walmart de Mexico y Centroamerica stores, so their products can be sold to the public. Participants receive 100 percent of sales, including profits. In 2009, Indigenous Product Commercialization Program sales of $1.6 million pesos benefited approximately 2,900 people. Furthermore, production in the communities increased by 180 percent, thanks to reinvested profits.
The Indigenous Product Commercialization Program currently supports some 100 communities through 11 NGO's in nine states of Mexico: Chiapas, Chihuahua, State of Mexico, Guanajuato, Guerrero, Merida, Michoacan, Oaxaca and Puebla. Products have been merchandised in 198 Walmart and Superama stores and El Porton restaurants.
The biennial World Business and Development Awards are presented by the United Nations Development Programme (UNDP), the International Chamber of Commerce (ICC) and the International Business Leaders Forum (IBLF), the awards acknowledge the contribution of private companies to help achieve the Millennium Development Goals through their core business.
The ceremony was presided by Helen Clark, UNDP Administrator; Dr. Mo Ibrahim, Founder and Chair of the Mo Ibrahim Foundation; Andrew Mitchell, British Secretary of State of International Development; Dr. Rajiv Shah, Administrator of the United States Agency for International Development (USAID); Ellen Johson-Sirleaf, President of the Republic of Liberia and representatives from the 10 winning nations.
About the Walmart de Mexico Foundation
The Walmart de Mexico Foundation was established in 2003 with a goal of fostering sustainable feeding and development for poor communities through projects to improve their income and quality of life. In 2009, $386.8 million pesos were donated to 202 institutions, benefiting 3.4 million Mexicans. Since its founding, it has donated more than $1.5 billion pesos to aid more than 12 million people. For more information, visit http://www.walmartMexico.com.mx/respsoc.html
SOURCE Walmart Mexico
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