SOURCE: EurOrient Financial Group

September 10, 2008 04:22 ET

EurOrient Financial Group Addressing the Challenges of a Changing World

LOS ANGELES, CA--(Marketwire - September 10, 2008) - The EurOrient Financial Group ("EurOrient") is poised to focus on the challenge of translating the 21st century agenda into practical steps, concentrating on key areas where faster implementation is required and where it will have the greatest impact in promoting sustainable development and economic growth.

In the Millennium Declaration, world leaders were confident that humanity could, in the years ahead, make measurable progress towards peace, security, disarmament, human rights, democracy and good governance. They called for a global partnership for development to achieve agreed-upon goals by 2015. They vowed to protect the vulnerable and meet the special needs of Africa, and they agreed that the private sector and civil society needed to become more, not less, actively engaged in shaping our common future.

The efforts to fight poverty are falling short amid the current global financial, energy and food crises. "World leaders should be more active in the fight against poverty and in protecting the vulnerable," Chairman of the Board of Directors of the EurOrient Financial Group, Mr. Ron Nechemia said on Sunday as EurOrient is preparing to unleash its new resource mobilization campaign that aims to mobilize additional financial, technical and human resources for the benefit of developing nations seeking sustainable economic development and poverty reduction and to boost EurOrient's institutional capacity. He said that although progress has been made in several areas, "We are not doing nearly well enough." Mr. Nechemia also said, "The fight against poverty requires leadership from all parts of governments, private sector and civil society right from the top. The global crisis that is confronting us now is far more than just another financial crisis. It is a threat to humanity itself." He added, "We need leaders everywhere to centre on the challenge of translating the agenda of the 21st century into practical steps, and the problem-solving skills of the private sector, in partnership with others, to support Millennium Development Goals and other international development goals and to do so in a manner that makes sound economic sense, and does not replace or undermine the role of government."

Mr. Ron Nechemia stressed that at this defining moment in history, we must be ambitious. Our action must be as urgent as the need, and on the same scale. We must face immediate threats immediately. We must take advantage of an unprecedented consensus on how to promote global economic and social development, and we must forge a new consensus on how to confront new threats. Only by acting decisively now can we both confront the pressing security challenges and win a decisive victory in the global battle against poverty by 2015.

EurOrient Financial Group is facing numerous global challenges in mobilizing resources for poverty eradication at a time when the global economy is slowing down, and is focusing its efforts on creating an enabling environment that is necessary to successfully mobilize additional financial resources for investment, promoting sustained growth and social development and taking the necessary steps to help build the conditions from which increased economic activity can take off.

Mr. Ron Nechemia emphasized that there is no task more important than building a world in which all of our children and our grandchildren can grow up to realize their full potential, in health, peace and dignity.

EurOrient Financial Group is a private sector global development finance institution. Its mission is to mobilize financial, technical and human resources for the benefit of developing economies seeking sustainable economic development and poverty reduction. EurOrient invests in projects and programs that promote social development, build human capacities, and address host government priorities for investments in physical infrastructure that promote and enhance social development. These projects include roads, transportation and communication systems, water, sanitation and other types of investments with social development outcomes such as improved quality of life and increased human knowledge and skills.

EurOrient at Glance
Headquarters: Los Angeles, California
Website: www.eurorient.org
CEO: Mr. Ron Nechemia

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