Big Day in Seoul (we won)
It’s ten in the evening after a remarkable day in Seoul.
In short, thanks to all the votes from our supporters, PDT was named a People’s Choice winner in the G20 SME Finance Challenge. Our winning idea? Factor Finance for Procurement, which will provide line of credits using sovereign backed loan guarantee facilities and factor finance. It’s a mouthful, but what it means in practice is that small entrepreneurs in places like Afghanistan will have the money they need to bid on bigger tenders, which will create more jobs where they are needed most. Thank you once again to all of PDT’s partners who helped us win. We’re more grateful than you could realize.
The award was presented by Korean President Lee, while Canadian Prime Minister Harper and President Obama looked on.
In President Obama’s congratulatory speech, he announced that the G20 nations had agreed to establish a $528m fund to launch ideas like ours. That’s wonderful news, and surpassed all the rumours we had heard earlier in the week.
So, I’m off to bed to get some sleep before my 18 hour flight home in the morning. There is an even bigger event happening and I need to make haste if I am going to make it in time. My son Mac turns two.