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Emerging Markets Development Corporation

Emerging Markets Development Corporation

Emerging Markets Development Corporation is a nonprofit that cultivates low-income neighborhoods as hospitable environments that can attract and retain financial institutions and supermarkets. Specifically, it:

  • Organizes residents to document their buying power through locally driven surveys, focus groups, grocery shopping logs, or financial diaries.
  • Mobilizes residents to make formal commitments or pledges to patronize a bank or grocery store that is opened in their neighborhood.
  • Provides technical assistance to local economic development corporations that endeavor to create new shopping centers or other commercial developments that could host banks or grocery stores.
  • Mounts neighborhood-wide financial education or home economics campaigns designed to better prepare residents as customers of local banks and grocery stores.
  • Creates support groups or peer-coaching programs that support residents in maintaining new behaviors – such as saving money or planning healthier meals – for the long-term.
  • Trains nonprofits and associations on what they need to do to be partners with financial institutions and supermarket chains.
  • Promotes public sector or philanthropic initiatives that incentivize bank or grocery store development in low-income neighborhoods.