London – The Freedom Fund welcomes the commitment from the U.S. Government of $25 million to launch the Global Fund to End Modern Slavery. The Global Fund will make critical resources available for international programs that will free and reintegrate those enslaved around the world, prevent individuals from being enslaved and enforce laws to punish perpetrators.
“This commitment is a significant first step to address the paucity of government funding to fight modern slavery globally,” said Nick Grono, CEO of the Freedom Fund. “We strongly support the establishment of the Global Fund to End Modern Slavery, and look forward to a successful partnership.”
Earlier this year, the U.S. Congress passed the End Modern Slavery Initiative, legislation that authorises funding for the Global Fund to implement anti-slavery programs all over the world. The initiative seeks to raise $1.5 billion from other donors, and over the next three years the Global Fund to End Modern Slavery will invest in projects to combat all forms of modern slavery.
Modern slavery is a highly profitable crime, generating an estimated $150 billion in illicit profits every year for the perpetrators. By contrast, government funding to combat this atrocity amounts to just $120 million annually. More funding is sorely needed to address this massive disparity.
The Freedom Fund, as a leader in the global movement to end modern slavery, strongly supported the successful application of the Global Fund to End Modern Slavery to the U.S. State Department. Nick Grono has been invited to join the Global Fund’s Expert Advisory Council.
“We look forward to working together as the Global Fund moves to implement its ambitious mission,” said Grono.
For further details, contact:
The Freedom Fund
+1 (929) 244-9722
About the Freedom Fund:
The Freedom Fund is a leader in the global movement to end modern slavery. We identify and invest in the most effective frontline efforts to eradicate modern slavery in the countries and sectors where it is most prevalent. Partnering with visionary investors, governments, anti-slavery organisations and those at risk of exploitation, we tackle the systems that allow slavery to persist and thrive. Working together, we protect vulnerable populations, liberate and reintegrate those enslaved and prosecute those responsible. http://www.freedomfund.org