March 11, 2025, Forbes Global – The highly anticipated Global Economic Growth Virtual Summit took place yesterday, marking a historic moment in global economic discourse with the official launch of the Economic Growth Capital Resource (EGCR) as delegates from 165 nations participated. EGCR is developed by the World Subnationals and Nations (WSANDN) in collaboration with Juvidoe Technologies, this cutting-edge platform aims to tackle both local and global economic challenges through the integration of blockchain and artificial intelligence (AI), unlocking untapped potential in economies worldwide.
Representatives and delegates from all over the world who participated in the summit, connected virtually from their homes and offices in their nations to discuss strategies for promoting sustainable growth, eradicating poverty, and enhancing economic resilience. One of the key speakers at the opening session was Dr. Belle Burdis from the United Kingdom, who called for the strengthening of local economies as a foundation for global prosperity.
Dr. Burdis stressed that global economic success depends on the health of local economies. “When local economies thrive, the world thrives,” she remarked. She also highlighted the need for innovative funding models, job creation strategies, and efforts to enhance the value of local currencies to ensure sustainable, long-term growth.
During her address, Dr. Burdis underscored the significance of Public-Private Partnerships (PPPs) and social impact investing as crucial tools to finance critical sectors like healthcare, education, and infrastructure. She advocated for empowering small and medium-sized enterprises (SMEs) and emphasized the importance of vocational training programs to meet the demands of emerging industries.
Dr. Burdis also touched on the importance of empowering developing economies, warning against the risks of neocolonialism and calling for local ownership of resources to promote self-sustaining economic growth. “True economic advancement,” she concluded, “must focus on inclusive, locally-driven solutions that empower nations and their people.”
Another key moment at the summit was the speech by Dr. Dominion V. Judah, President General of WSANDN, who made a groundbreaking announcement regarding the Poverty Reduction Index. Dr. Judah argued that Gross Domestic Product (GDP) is an inadequate measure of true economic growth. “GDP may grow, but if it does not lead to poverty reduction, it is not true growth but merely production growth. True overall economic growth must lead to poverty reduction,” he emphasized, a sentiment that deeply resonated with the audience.
Speaking to all the delegates from 165 nations, Dr. Judah also introduced the Economic Growth Capital Resource (EGCR), a comprehensive financial platform designed to unlock the full potential of local economies and address global challenges such as poverty and economic instability. Powered by Juvidoe Technologies’ blockchain and AI platforms, the EGCR integrates several key components aimed at stimulating growth and fostering long-term economic benefits, which include:
- Sector Development Funds (SDFs): Targeting essential sectors like agriculture, technology, healthcare, and education, these funds aim to drive sectoral growth and create jobs.
- Sovereign Wealth Funds (SWFs) and Subnational Wealth Funds (SnWFs): Designed to provide long-term financial stability for both national and subnational governments, generating consistent returns for reinvestment into development projects.
- Subnational Reserve Systems (SNRS): This mechanism aims to stabilize local currencies, reduce inflation, and create a favorable environment for investment.
- Subnational Direct Investments (SNDIs): Direct investments targeting local economies to address inflation and enhance the availability of goods and services.
- Subnational Capital Markets (SNCMs): Developing local capital markets to enhance access to funding for businesses and governments.
- Debt Management Solutions: Aiding in reducing the global debt burden to allow governments to focus on critical sectors like infrastructure and healthcare.
- Other Subnational Financial Institutions (SnFIs): Subnational Financial Institutions (SnFIs) are financial entities that operate at the regional or local level, offering banking and financial services tailored to the specific needs of the local economy. According to the economics and finance expert, SnFIs will empower local businesses and communities by providing essential financial services and credit to fuel growth. By offering access to capital at the grassroots level, EGCR will transform the financial landscape, enabling smaller enterprises to thrive and ensuring that economic benefits are widely distributed across regions.
A core focus of EGCR is promoting global collaboration and the eradication of poverty, with an ambitious goal of eliminating poverty worldwide by 2030. Dr. Judah emphasized that EGCR’s power lies not only in its ability to transform economies but also in its potential to unite nations for a shared goal: eradicating poverty and ensuring equitable, sustainable economic growth.
“By fostering global cooperation and investing in local economies,” Dr. Judah said, “EGCR will create wealth, eradicate poverty, and contribute to a more interconnected and prosperous world.”
As the summit came to a close, there was a palpable sense of optimism among participants, who acknowledged the transformative potential of EGCR in tackling both urgent economic issues and long-term global goals. The partnership between WSANDN and Juvidoe Technologies marks the beginning of a new chapter in global economic development—one that emphasizes the empowerment of nations, the promotion of financial sovereignty, and the creation of a more inclusive world economy.
The event wrapped up, as almost all the delegates from 165 nations reaffirmed their commitment to turning the new economic paradigms unveiled at the summit into tangible actions, ensuring positive and lasting change for generations to come.
