|
Operation HOPE Awarded $750,000 from Clinton-Bush Katrina Fund to Aid Hurricane-Affected States
By James Comtois
Survivors of Hurricane Katrina needing financial guidance to rebuild their homes will receive it, thanks to a grant offered to a nonprofit social investment bank from a fund coordinated by two former Presidents.
According to Operation Hope Inc., the Bush-Clinton Fund will award $750,000 to HOPE Coalition America for on-going emergency and financial guidance and assistance to aid individuals and families affected by the 2005 hurricanes in Alabama, Louisiana and Mississippi. HOPE will open offices in the Louisiana and Mississippi regions in order to provide financial recovery services.
Since September, the Presidents have raised approximately $115 million, awarded 42 grants, and disbursed more than $53 million through April 30, 2006. The grants include funds to help build new homes; provide mental health and health care services; rebuild water, sewer and gas utilities; build shoreline improvement projects; provide community and child development services; provide financial counseling; and aid in economic recovery.
HOPE Centers are responsible for more than 800 new homeowners and small business owners, over $125 million in funded loans, and an excess of $240 million in commitments for homeownership and small business loans. In partnership with the U.S. Department of Homeland Security, the Federal Emergency Management Agency and a network of private and community partners, HOPE Coalition America is HOPE's disaster recovery and financial reconstruction pre- and post-emergency division. It has provided free financial counseling and casework services to Americans affected by natural disasters and national emergencies in 125 cities in 35 states to date.
Operation HOPE Founder and CEO John Hope Bryant said, "After a disaster, financial issues affect more people than personal injury. Hurricane Katrina devastated the lives of millions of people, affecting all income levels, and many at lower income and ownership levels were already in a sort of economic disaster when Katrina struck. Through this outstanding commitment from the Bush-Clinton Fund, Operation HOPE will be in a better position to make a positive impact on the lives of people suffering most from the socio-economic repercussions of this disaster."
Mr. Bryant and HOPE Coalition managing director Fred Smith were present on May 12th in New Orleans, when former Presidents George H.W. Bush and Bill Clinton announced 10 new Bush-Clinton Katrina Fund grants for recipients, totaling $9.7 million. That announcement included the grant to Operation HOPE for HOPE Coalition America and Project Restore HOPE. These direct grants focus on health, housing, community and infrastructure, and cover all three states (Louisiana, Mississippi and Alabama) impacted by Katrina.
HOPE Coalition America, Operation HOPE's financial disaster preparedness division and FEMA partner, began work in the Southern region in 2004 when four hurricanes blew through Florida, causing tremendous damage and destruction. Using a growing network of HOPE Corp volunteers, HOPE Coalition America brings together financial services professionals to provide free financial and economic counseling to those affected by natural disaster, national emergency or personal tragedy. HOPE Coalition America operates a national call center for individuals affected by disasters, in Poway, Calif., sponsored by First American Corporation, which has assisted more than 10,000 victims with emergency financial counseling and economic triage.
"The ability to place more full-time employees in the disaster-affected cities will enhance our capability to provide our financial recovery and preparation services," said Mr. Smith.
More emerging market news
| 
