UBS
Optimus Foundation, the philanthropic organisation that recently opened
an office in Hong Kong, announced today it is partnering with
government and private donors in a global initiative to put nutrition at
the centre of the development agenda.

The organisation plans to raise SFr65 million ($85.9 million) over
the next eight years and intends to “dramatically improve children's
nutrition, reduce stunting, and help prevent death from
under-nutrition,” according to a statement from UBS.

The group joined other foundations ahead of this month’s Group of
Eight summit to sign an agreement to put nutrition among the highest
priorities on the development agenda. Preventable under-nutrition, the
statement said, causes the death of more than 8,000 children every day.
Among other effects, it is believed to cut African and Asian gross
domestic product by up to 11 per cent a year.

At that meeting, the UBS Optimus Foundation said it will commit SFr15
million for nutrition-related projects in developing countries. In
addition, it agreed to contribute to a novel "Nutrition for Growth
Facility" announced during the June 8 meeting.

All donations from UBS clients which the foundation directs to the
new facility will be doubled. Partners include the Children's Investment
Fund Foundation and the Canadian and UK governments.