Chevron and USAID Partner to Improve Living Standards in the Niger Delta Through $50 Million Alliance

Chevron Corporation (Press Release)

February 17, 2011 09:00 AM Eastern Time

Chevron and USAID Partner to Improve Living Standards in the Niger Delta Through $50 Million Alliance

New model for collaboration seeks stability, development and economic progress

Chevron Corporation (NYSE: CVX) today announced the signing of a memorandum of understanding (MoU) between the United States Agency for International Development (USAID) and the Niger Delta Partnership Initiative (NDPI) Foundation, established by Chevron to help address socio-economic challenges in the Niger Delta region of Nigeria. Under the MoU, the NDPI Foundation and USAID will each contribute $25 million over four years to support a portfolio of programs designed to promote economic development, improve the capacity of government and civil society institutions, and help reduce conflict in the region.

“Chevron’s support of the NDPI Foundation recognizes that our business is fundamentally linked to the sustainable development and peaceful co-existence of communities in the places where we operate.”