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 You are in: Under Secretary for Public Diplomacy and Public Affairs > Bureau of Public Affairs > Bureau of Public Affairs: Press Relations Office > Press Releases (Other) > 2001 > November
Notice to the Press
Office of the Spokesman
Washington, DC
November 2, 2001


Secretary Powell to Address Polish-American Enterprise Fund and Polish-American Freedom Foundation Commemoration

Secretary of State Colin L. Powell will deliver remarks at a ceremony honoring the Polish-American Enterprise Fund and the Polish-American Freedom Foundation. The event will take place at 4:15 p.m. on Monday, November 5, 2001, in the Treaty Room of the Department of State.

The Polish-American Enterprise Fund was an innovative and highly successful initiative launched in 1989 to support the private sector and nascent market economy in Poland through unique public-private partnerships. During its ten years of operations, the Fund's activities, including direct investment, lending programs, and technical assistance, had a direct impact on more than 130,000 jobs in Poland's private sector. The companies in which the Fund had invested generated revenues in excess of $1.2 billion and employed over 21,000 people.

After completing its mission of stimulating Poland's private sector, the Fund began to liquidate its assets returning $120 million to the U.S. Treasury in September 2001. The remainder of the sales proceeds, approximately $180 million, were used to endow a philanthropic foundation called the Polish-American Freedom Foundation to support the continued growth of the private sector in the region.

This event is open for press coverage.

For further information, please contact Kate Byrnes or Mark Toner, Bureau of European and Eurasian Affairs Press Office, at 202-647-6925 or the State Department Press Office at 202-647-2492.


Released on November 1, 2001

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