Priya Basu joins GFEMS as new CEO
By: Global Fund To End Modern Slavery
Tags: Human Trafficking, Sustainable Development, Financial Services, Sdgs, World Bank

The Board of Directors of the Global Fund to End Modern Slavery (GFEMS) is pleased to announce Priya Basu as the Fund’s new Chief Executive Officer, effective January 6, 2020.

GFEMS is a bold international fund dedicated to ending modern slavery, including child labor, forced labor and human trafficking by forging public-private partnerships, focused on rule of law, supply chains, and the recovery and reintegration of survivors. The Fund seeks to support transformative programs and technologies and ensure robust assessment of impact across all partners and programs.

Priya Basu, CEO

Basu joins GFEMS from the World Bank, where she has served for 21 years, most recently as the Head of Development Finance and the Head of the Women Entrepreneurs Finance Initiative (We-Fi). She has built a career on complex international development issues focused on ending poverty and boosting shared prosperity. She has a proven record in strategy, program implementation, and resource mobilization and successful executive leadership of new and growing funds.

At We-Fi, Basu spearheaded the vision, strategy and execution of the global initiative. She delivered on an ambitious resource mobilization plan, securing over $350M from 14 countries for the initial rounds of program funding that mobilized $2.6 billion for women entrepreneurs around the world. In previous roles at the World Bank, Basu managed a $21 billion portfolio of innovative, multi-donor trust funds and partnerships focused on global public goods and served as Lead Economist for the South Asia Region. Prior to the World Bank, Basu has worked in investment banking, and at the United Nations Conference on Trade and Development, International Labor Organization, International Monetary Fund, and Asian Development Bank.

Outgoing inaugural CEO, Dr. Jean Baderschneider, who will continue on as Chair of the Board, said, “I am thrilled to welcome Priya as the new CEO of the Fund. Priya brings a valuable combination of breadth of experience, energy, determination and passion for the role. Her nearly three decades of experience at the nexus of issues like poverty reduction, empowerment of women and girls, migration, and tackling illicit financial flows positions her well to address the systems perpetuating modern slavery. I am confident that her understanding of these issues combined with her experience in mobilizing resources to combat them, will be an excellent foundation for her to build on the Fund’s momentum and to propel us into its next phase.”

GFEMS founding Board member Ernie Allen commented, “Priya has just the right skills to serve as the Fund’s CEO. She has a deep understanding of the global issues perpetuating modern slavery and the right network of partners to meaningfully address them. We are excited to learn from her and work side-by-side to achieve the Fund’s original vision as a truly international fund.”

Board member Cardinal Vincent Nichols, Archbishop of Westminster Cathedral said, “I welcome Priya to GFEMS. She brings a fresh perspective to the fight against human trafficking and, with her experience, will help the Fund continue to develop solutions for combating modern slavery.”

Since its formation, the Fund has raised significant seed funding, launched transformative programs in India, Vietnam, and the Philippines, established a robust approach to prevalence measurement, and built partnerships with stakeholders in government, the private sector, and civil society around the world.

Basu’s leadership will be instrumental in building on this momentum. Moving towards the Fund’s vision of a truly international fund, she will accelerate progress in securing substantial resources for the fight, mobilizing and increasing engagement with the private sector, and deepening the Fund’s partnerships across the international anti-slavery community.

“I am delighted that Priya has accepted the position of CEO of GFEMS. Her experience and drive will enable the Fund to get to the next phase in terms of global impact and influence,” added John Cotton Richmond, Ambassador-at-large, Office to Combat Trafficking in Persons.

“I am honored and excited to lead GFEMS as its new Chief Executive Officer,” said Basu. “Ending modern slavery is not only a moral and ethical imperative but also, it makes good economic sense. I look forward to working with the GFEMS Board and team, and with governments, the international community, civil society, the private sector and other partners to advance this critical and urgent priority and make Sustainable Development Goal 8.7 a reality.”

Looking ahead, there is still much work to do. The future of this fight lies in building, financing, and executing a coherent global strategy with partners. Under Basu’s leadership, the Fund is looking forward to the next chapter.

Questions regarding this announcement may be sent to media@gfems.org.