new world Foundation international

 

SUMMARY OF THE EXECUTIVE DIRECTOR'S REPORT

The journey so far

For the 2^nd year in succession, I find myself reviewing a year of continuing volatility in equity markets around the world. Although New World Foundation ended this year with an asset value higher than the start of the year, we have been affected by the reduction in value from the high points in 2007/2008 and the continuing global, political and economic uncertainty. In February 2007, therefore, the Board of Governors approved a revised financial plan. From a previously planned level of expenditure of around $1 Million per annum, this revision now enables us to commit grant and direct activity expenditure of approximately $900, 000 per annum. We are confident that this meets the twin objectives of managing our assets to provide for both future long term growth and supporting a substantial current level of charitable giving.

 

We have taken stock of our activities and considerable staff effort was put into a comprehensive cross organizational review. Much work was done to examine our activities against our aims, to ensure continuing support for New World 's mission. As a result of the review, some of our activities have been scaled back, others strengthened and a handful have been stopped. We are confident that we can continue to support a diverse portfolio of advocacy, grants and outreaches across the spectrum of our interests whilst continuing to maintain our asset base for the future.

 

During the year, we said farewell to Mr. Mike Okeke as Chief Investment Officer, who made an invaluable contribution to New World  during his one year term of office and welcomed his successor, Mr. N.S Echefu who took up the position at the beginning of June. As a former Governor, his previous knowledge of New World  positioned him to take on the challenges which face this diverse organization. He has begun his work with enthusiasm and the Board of Governors has agreed to his proposed restructuring of the way we organize our scientific research grant activities around a new model based on scientific themes encompassing the breadth of biomedical sciences that is now being developed for implementation in October, 2005.

 

MAJOR ACTIVITIES

In my second year as chairman, I know that the wide breadth of projects and advocacy works supported by New World  makes it more difficult to single out particular activities for attention. A fuller picture of the last twelve months can be obtained from the Trustee's Report and the Separate Annual Review, so here I am focusing on events or activities that have generated either particular international recognition or fundamentally altered the ability of the New World  'make a difference'

 

An entirely different area of partnership with the Creative Youths Research Fellowship led us to being joined by Prof. Vincent Okorie, a professor of pharmacology and toxicology for a launch in December 2007 of the New World  new working document which review our successes and our failures and our new approaches to tackling our failures. It also emphasized a new strategy that could make us meet those in the rural areas where the bulk of Infectious diseases death occurs.

 

New initiatives in our international portfolio include the launch of a $50, 000 programme, Diarrhea and Starvation situation in Niger Republic, focusing on the health needs of inhabitants of the drought ridden Niger Republic who had already started moving into neighboring countries for relief and safety. Under this initiative, we envisaged funding a spectrum of projects over the next one year on Public Engagement and Relief activities in Niger Republic. In partnership with the M & B Fruits, a Nigerian juice industry, we distributed fruits and food items to victims in the  Lenge' relief camp. The fruits were distributed to help them with their vitamin needs. We also distributed treated water in water bags . New World  supplied a total of 6000 liters of water  while the drought lasted. 150 Insecticide treated nets and 250 RAID insecticides were equally distributed.  Through the help of some of our volunteer health workers who were fed and transported to Niger Republic at New World 's expense, a mobile clinic was launched which attended to more than 500 patients with different cases of infectious diseases like Tuberculosis, malaria and diarrhea. Though for lack of adequate finances, we couldn't do much as our clinic only lived for two weeks before we ran short of drugs.

 

New World  in June 2007, launched its 4-Year Tropical Disease Eradication Project (TDEP). The principal aim of TDEP is to identify the tools needed for the control of eight tropical diseases and stimulate the corresponding research. TDEP worked in collaboration with academic groups and pharmaceutical industry. TDEP shall within the next two years make it possible to set elimination targets for four of the programme’s eight target diseases: onchocerciasis, lymphatic filariasis, leprosy, and Chagas disease. TDEP's successful collaboration with industry shall provide the foundation and operational framework for more recent and scientifically challenging partnerships aimed at product development.

 

Also in the year under consideration, New World  launched the 4-Year ERADICATE MALARIA initiative. New World  will within this 4 years through the help of its biomedical, laboratory and pharmacy units distribute and research more on malaria medicines . The Project shall operate as an innovative partnership to develop low-cost antimalarial drugs. New World  within this 4 years shall reach an agreement with registered pharmaceutical companies to make the new combination drug therapy for malaria as a life-saving importance in areas where drug-resistant infections are major killers available at cost to endemic countries. These pharmaceutical companies shall also assist with packaging innovations to improve compliance. Innovative packaging will also help address the huge problem of counterfeit drugs.

 

Finally, I must  accord my appreciation for those continued and unstinting support of those who serve in our various units and decision-making commitments and to all those who provide expert referee opinions and comments on grant application. New World  wouldn't have functioned without the input of these many hundred individuals, any more than it could without the continuing commitment and hard work by the staff of New World  and its subsidiaries.

  

signed

DR. ECHEFU BRIGHT I.

Executive Director