Last September proved to be one of Mexico’s hardest months to date, with two major earthquakes striking 11 days apart. This event sent the entire country into turmoil, but at the same time brought its people together, proving once again that Latinos cannot be broken.
It was the civil society that acted first, before the government. Large groups of citizens organized various relief effort teams that managed the distribution of supplies, and the search for survivors. With rescue efforts coming to an end, Mexico’s private sector has taken it upon themselves to assist with the next step – reconstruction.
The Business Coordinator Council (Consejo Coordinador Empresarial or CCE for short) which consists of Mexico’s top moguls, met with President Enrique Peña Nieto on September 27th to discuss the launch of a private trust fund that would assist with reconstruction efforts in the most affected areas. In this meeting, the likes of Telecom billionaire Carlos Slim(constantly regarded as the world’s richest man by Forbes), mining tycoon Alberto Bailleres, and banker Alfredo Harp, all made an appearance.
“The Trust Fuerza Mexico (Fideicomiso Fuerza Mexico) was created by the business community. Resources will be used for the reconstruction of houses, schools, and some historical monuments,” Juan Pablo Castañon, President of Mexico’s Economic Coordinador Council (CCE), told Forbes’ journalist, Dolia Estevez.
Carlos Slim is optimistic that this initiative will not only work but that it will create a lot of new jobs. “There is a lot to be done, therefore it must be done efficiently. In many cases, we should not just rebuild, but also do it better,” said Telecom giant after the meeting with the President.
His private [Carlos Slim] foundation, along with the Telmex Foundation, set up a philanthropic effort that would match 5 times over every donation made by the public to his organizations. This is an added effort to the 150 tons of humanitarian aid that was distributed in the five states that were largely affected by the earthquakes.
Castañon, who will lead the campaign, said that there are no limits to the amount of money that will be used to rebuild the country. He claims that billions of pesos will be needed to reach the goal, but that with the collaborated efforts of Mexico’s largest private foundations working in complete transparency, they expect to surpass their goals.
With the dust already settling, damage assessment reports say that at least 2,000 buildings collapsed or suffered irreparable structural damage in Mexico city during the 7.1 magnitude earthquake. Hopefully, this effort led by the country’s richest citizens will be enough to complete such a monumental task.
This article was inspired by Forbes // Mexico’s Billionaires Create Trust To Help With Reconstruction After September Quakes