IGBO RENAISSANCE FUND (IRF)
PHILOSOPHY, BACKGROUND AND FUNDING STRATEGIES

Introduction
For the first time in its history, World Igbo Congress has established an Igbo Renaissance Fund (IRF) that defines people oriented priorities and strategies.
This Fund identifies three vital components for the restoration of the Dignity of Igbo man:

1) Restoration and Preservation of Igbo Cultural Heritage,
2) generation of cohesion among Diaspora Igbo,
3) Development of the Instruments of socio-economic Power.

Purpose
IRF aims to raise $15 Million in the first phase over a 5-year period with which to strategically stimulate economic development on a meaningful scale and invest on the abundant human capital to make ala Igbo truly great. IRF is an instrument of a continuous plan, the means to implement a local and global strategy for Igbo growth. The Fund demonstrates a departure from depending on trickling contributions and unrealized dependence on Igbo governments’ support. Instead, IRF will support an environment that fosters and attracts international collaboration in Igbo land development, incentivizes collaboration in the name of human capital development and improved quality of life for the Igbo.
Philosophy and Background
The World Igbo Congress sees the need for:
A. Solidarity necessary for Igbo socio-economic and political emancipation within the comity of ethnic groups in Nigeria.
B. A strong Igbo Revenue Bond, enabled by shared determination to sustain and protect the Igbo Heritage and offer guaranteed solidarity and unity of purpose for the Igbo Project.
C. Group Investment holdings and by extension, stronger fiscal security for Ndi Igbo

The World Igbo Congress is conscious of the population of the Igbo which has been estimated in various literature to be anywhere beyond 45 million worldwide. Of this number 5% to 8% are newer emigrants resident in the US, the UK, Canada, Japan, China, Cameroon, Ghana and Equatorial Guinea among others. By 1997 figures over 350,000 working adults live in the USA alone. This number must have increased since then in view of the newer immigrants stated above. Nevertheless, as a starting fillip, the World Igbo Congress projects to reach 50,000 working Igbo in this first phase of the project. This should bring in $15,000,000 at a one-time minimum contribution of $300.00 per working Igbo. The fund will serve as seed money for the subsequent phases that should expand the project to the realms of billions of dollars.
Investment Strategies and Projects
The World Igbo Congress proposes to:

A. Stimulate Bank ownership with the initial adoption of a bank with $10 million in order to leverage equity and entitlement of Bank Securities. This will help the Igbo in the US and elsewhere to access loans to stimulate Igbo businesses and Igbo participation in the share of the humongous mortgage industry which thrives despite the global economic down turn
B. Build a Regional Health Center of Excellence in Igbo land with interface between the technology and Igbo specialists in the west and our home doctors to mitigate the ugly and expensive incidents of our people dying abroad and sometimes in transit while looking for health care.
C. Establishment of a Heavy Equipment Spare Parts Factory to help rehabilitate technical schools as well as Agriculture and agro-business, transport and construction equipment
D. Stimulate Infrastructure development to promote self-sufficiency in security and high speed commerce for ala Igbo and also support the envisaged Health Center of Excellence
E. Establish a satellite radio for dissemination of information of Igbo interest
F. Financial statements will be issued with standard frequency, annually.
Post-Convention Status of the Igbo Renaissance Fund.
Igbo Renaissance Fund (IRF) was approved and launched at the Convention by Prof. Pat Utomi, Think Tank member, and Chief Fund Launcher who simplified the 3-tier funding process as follows:
1. Ohanaeze Empowerment Fund: $20.00 per Igbo per annum to fund Ohanaeze and WIC. This fund covers regular administrative needs of the organizations. It was resolved that Ohanaeze must have its own fund to effectively provide leadership guides and directives to all Igbo, on matters of interest to the Igbo Nation.
2. Special Projects Fund: This fund will deliver the 150-bed Regional Medical Center of Excellence (RMCE), and later the Spare Parts Factory. Individuals or families can purchase bricks for these initiatives for a minimum of $1000.00 per brick. More than 50 bricks were sold during the launch. Mr. Obi Thompson, in addition, purchased the highest number of bricks at the launch with $10,000.00 and pledged to provide the broad band hightech necessary for real-time diagnosis and healthcare delivery at the RMCE. Mr. Bart Nwagbo purchased the second highest number of bricks for $5000.00. Those who purchased ten or more bricks will be honored by having building units named after them.
3. Transformational Fund: A Fund to transform the Homeland by creating an enabling business environment for Investors was also launched. Transformation of our Homeland was considered extremely important to provide a safe haven for Igbo artisans, entrepreneurs and professionals of various stripes who must relocate from other regions of Nigeria or elsewhere in the world that have become unsafe for Igbo life and property. Investment in this category is open to all investors from anywhere in the world. This Fund will be managed by a professional firm of the caliber of Goldman Sachs. Investment details including Return on Investment (ROI) will be worked out later. In addition to a purchase of several bricks for the Special Projects, the Chief Launcher, Prof. Pat Utomi, pledged N500 million buy-in on the Transformation Fund.

WORLD IGBO CONGRESS CALLS ON ALL IGBO WORLDWIDE TO BRACE UP FOR A BETTER TOMORROW. WE WILL COME TO YOUR NECK OF THE WOOD. WE WILL HIT THE ROAD. ALA IGBO GA ADI NMA.

Click here to donate to Ohanaeze Empowerment Fund

Click here to donate to Special Projects Fund

Click here to donate to Igbo Transformational Fund