Chevron has created a $50 million fund to support socio-economic development programs over a five year period from 2010 to 2014. Of this total fund, $7.19 million is budgeted for staffing and office costs, general and administrative costs, and overall program and monitoring and evaluation expenses of operating the PIND Foundation in Nigeria over the 5 year period. The remaining $43.81 million is allotted to grants and contracts for projects in accordance with the set strategic objectives.
PIND will seek to match its program grants with contributions from other donor partners including:
- Bilateral aid donor agencies
- Multi-lateral aid agencies
- Nigerian federal and state government agencies
- Private companies
- Private foundations
As a partnership initiative, PIND will identify and select programs through engagement with current and potential donor partners. It will not accept unsolicited project or funding proposals.