Chevron Launches Social Investment Program with BRAC

Chevron Bangladesh announced the launch of an 18-month pilot for an enterprise development program. The initiative, to be implemented by BRAC, will be for the communities of the Bibiyana, Jalalabad and Moulavi Bazar gas field locations where Chevron operates. The program is part of the five-year Bangladesh Partnership Initiative (BPI), a USD$10 million commitment that was formally launched in September 2014 to support economic development.

A ceremony to commemorate the event was held in Dhaka and was attended by the State Minister,Ministry of Power, Energy & Mineral Resources, Mr. Nasrul Hamid, Member of Parliament, as Chief Guest; and United States Ambassador to Bangladesh, Marcia Stephens Bloom Bernicat, as Special Also present were President of Chevron Asia Pacific Exploration and Production, Melody Meyer; Director of Strategy, Communications and Empowerment at BRAC, Asif Saleh; Managing Director of Chevron Asia South Ltd Brad Middleton, and Chevron Bangladesh President, Kevin Lyon. It is anticipated that the program will support approximately 20,000 beneficiaries, and up to 1,500 enterprises will be created during its lifespan.

The State Minister said, “I believe this pilot will be a forerunner to one of the best community development programs, and I cannot think of a better implementing partner than BRAC. The data-driven systematic approach of Chevron paired with the development acumen and local knowledge ofBRAC is the best possible pairing for a program of this stature.”

Ambassador Bernicat said, “I am very proud that Chevron contributes to Bangladesh’s development by boosting energy security and developing technical skills and knowledge, but is also investing in localcommunities. Chevron’s activities in Bangladesh are proof that that the best companies form partnerships with the countries in which they work and demonstrate their long-term commitment.”

In her address, Ms. Meyer said, “At Chevron we believe that our success is tied to society’s progress and is built upon long-term, collaborative and mutually beneficial relationships. Our partnership with BRAC as part of the Bangladesh Partnership Initiative reflects this approach.”

Mr. Lyon said in his remarks, “We feel privileged that BRAC, the world’s largest NGO, is partnering with us on this important journey. We’re confident that their knowledge and experience will help us significantly improve the socioeconomic standing of our communities. BPI is a five-year program, but I hope that its impacts will be sufficiently far-reaching to continue beyond its lifespan and beyond Chevron’s involvement. We want to be a part of the success of our communities, and I’m excited that the launch of this pilot will be a key step in that direction.”

Mr. Saleh said, “The project focuses on inclusion, sustainability and self-dependence. BRAC’s strength is working in the rural Bangladesh focusing on holistic development and the partnership with Chevron`