Clinton Global Initiative Highlights SBP's Innovative Disast...| MENAFN.COM

Sunday, 25 September 2022 09:20 GMT

Clinton Global Initiative Highlights SBP's Innovative Disaster Recovery Solutions'


(MENAFN- PR Newswire)

SBP shared how its Recovery Acceleration Fund (RAF) will accelerate financial support for the most vulnerable disaster survivors to rebuild their homes sooner

NEW YORK, Sept. 21, 2022 /PRNewswire/ -- On Tuesday, The Clinton Global Initiative announced the innovative work of SBP, a Louisiana-based social impact organization focused on disaster resilience and recovery. SBP's Recovery Acceleration Fund (RAF), a new program that taps private investment to shorten the time it takes for financial support to reach disaster survivors seeking home repair assistance, earned recognition as a featured Commitment to Action at CGI's 2022 meeting. While survivors must often wait more than two years after a natural disaster to receive HUD assistance, the RAF will quickly provide bridge loans to finance home rebuilds for under-resourced survivors.

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The Recovery Acceleration Fund will begin to reshape the way disaster recovery works in America - in favor of survivors.

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Zack Rosenburg, CEO & Co-Founder of SBP, announcing the Recovery Acceleration Fund on the Clinton Global Initiative stage on Tuesday, Sept 20th, in New York.

'We are honored that the Clinton Global Initiative has recognized SBP's transformative work to help communities recover from disasters,' said Zack Rosenburg, CEO and co-founder of SBP. 'SBP is already hard at work launching our Recovery Acceleration Fund, which we believe can scale to impact thousands more families.'

Rosenburg presented the RAF at CGI's 2022 meeting, sharing details on the new program with media and other social impact leaders in attendance. The RAF will act as a scalable model for a bridge loan, helping to rebuild families' homes 24 to 36 months sooner than previously possible.

SBP is launching a pilot to rebuild 150 homes over the next 18 months and will scale the RAF to reach at least 1,000 homeowners over the next three years. This reimbursement model, which will pay a 4% return to investors, will become the go-to program that states and cities can build into their plans for distributing HUD relief, ensuring that low-income and vulnerable homeowners receive support months–not years–after disaster strikes. This is especially important for people of color in low-income communities. For these residents, homeownership is a key driver of wealth creation, and yet they are often disproportionately impacted by natural disasters.

The RAF is a new Commitment to Action announced at the CGI meeting. CGI facilitates action by helping partners like SBP connect, collaborate, and develop Commitments to Action—new, specific, and measurable plans that address global challenges. CGI supports these programs by helping to forge new partnerships, provide technical support, and elevate compelling models with the potential to scale.

About SBP

SBP, a social impact organization focused on disaster resilience and recovery, solves the challenges facing at-risk communities by bringing the rigor of business and innovation to drive social impact, create resilient communities, and streamline recovery. To shrink the time between disaster and recovery, SBP takes a holistic approach—reducing risk, increasing resilience, and improving the recovery process—to effect transformational change in the disaster recovery system and restore opportunity and security for people and communities.

Since its founding in 2006 in St. Bernard Parish, Louisiana, following the devastation wrought by Hurricane Katrina, SBP has rebuilt homes for more than 3,000 families with the help of 150,000 volunteers in 14 communities across the U.S. and in the Bahamas. 

To learn more, visit . Facebook, Instagram & Twitter: @SBPUSA

About the Clinton Global Initiative (CGI)

The Clinton Global Initiative (CGI) convenes global and emerging leaders to create and implement solutions to the world's most pressing challenges. CGI works with partners to drive action through its unique model. Rather than directly implementing projects, CGI facilitates action by helping members connect, collaborate, and develop Commitments to Action—new, specific, and measurable plans that address global challenges. Through CGI, the community has made more than 3,700 Commitments to Action that have made a difference in the lives of more than 435 million people in more than 180 countries.

SOURCE SBP

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