Goldman Sachs to educate 10,000 women globally

March 6, 2008 at 1:46AM

Goldman Sachs Group Inc., the world's largest investment bank, will spend $100 million to teach 10,000 women business and management skills. The initiative plans to seek out women in the Middle East, Asia and Africa who might have little or no opportunity to pursue such an education. Major U.S. and foreign universities will teach the curriculum -- which can span five weeks to nine months.

Goldman Sachs Chairman and Chief Executive Lloyd Blankfein said those recruited into the program will learn basic business principals such as marketing and funding their business ideas. The hope is that they return to their communities, put what they learned to use, and add to their local economies.

A World Bank study found about 70,000 highly qualified African scholars and experts leave their home countries each year to work abroad. Africa then spends about $4 billion a year to recruit expatriates to fill those jobs.

ASSOCIATED PRESS

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