The Goldman Sachs 10,000 Women Initiative and United States Department of State Announce New Partnership

New York, March 8, 2011 - The Goldman Sachs Foundation and the United States Department of State today announced that they will join together in partnership through the Goldman Sachs 10,000 Women initiative. The announcement came on the 100th Anniversary of International Women’s Day at the State Department International Women of Courage Awards Ceremony. The public-private partnership, unveiled by U.S. Secretary of State Hillary Clinton and Goldman Sachs CEO Lloyd Blankfein will establish a program to provide business and management training to a 100 emerging women entrepreneurs. The State Department will identify and select the participants to the program.

The Goldman Sachs 10,000 Women initiative is a $100 million, five-year worldwide campaign to drive economic growth by providing 10,000 women a business and management education as well as access to capital, networks and mentors. Launched on March 8, 2008, the program has reached more than 3,500 women in more than 20 countries through a network of more than 70 academic and nonprofit partners. The partnership between the Goldman Sachs Foundation and the State Department will extend 10,000 Women to more countries. To date, nearly 70 percent of graduates of the program have reported increasing revenue and more than half have added new jobs.

“Initiatives like 10,000 Women invest in the economic empowerment of women to promote security, stability and prosperity around the globe,” said Secretary of State Clinton. “This new partnership with the Department of State will extend the reach of the program and provide individual women the means to build safer, stronger, families, communities and nations.”

“In the three years since 10,000 Women was launched, we have seen clearly that investing in women is one of the best ways to stimulate economic growth,” said Lloyd Blankfein, Chairman and CEO of Goldman Sachs. “We are honored to partner with the State Department to extend this initiative to new markets.”

The Goldman Sachs Foundation-State Department partnership will expand the number of countries reached by 10,000 Women. The public-private partnership will select women entrepreneurs and provide training at the Thunderbird School of Global Management, which is already a 10,000 Women partner in Afghanistan and Pakistan. The State Department currently collaborates with Goldman Sachs 10,000 Women and the Department of State that includes a training program for Pakistani small business women. 

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