The COVID-19 pandemic has spiraled from a public health emergency to a global humanitarian and economic crisis, with women disproportionately affected. In response, Investing in Women, an initiative of the Australian government, recently launched the “Investing in Women RISE Fund —Responsive Interventions Supporting Entrepreneurs,” to inject capital for women-led small and medium Enterprises (SMEs) in Southeast Asia, including the Philippines.
The fund, which will be made available to existing enterprises and not for startups, offsets COVID-19’s impact on women-owned and led businesses, and provides much needed liquidity in a capital-constrained market.
The Macquarie Group Foundation has joined this initiative and will be investing more than P 43 million (1.25 million Australian dollars) in the Philippines. Depending on the program’s success, people behind it also hope to generate more than 200 jobs in the coming year as a direct result of the much-needed funding.
Vergara, A. (2020, November 24). Aussie-led fund provides women-owned and led SMEs much-needed shot in the arm. People Asia. Retrieved from http://peopleasia.ph/aussie-led-fund-provides-women-owned-and-led-smes-much-needed-shot-in-the-arm/