Australian govt, foundation support women-led enterprisesMedia Coverage /25 November 2020
COVID-19 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, launched the Investing in Women RISE Fund. RISE, which stands for Responsive Interventions Supporting Entrepreneurs, aims to inject capital for women-led Small and Medium Enterprises (SME) in the Asian region. The fund offsets COVID-19 impacts on women-owned and women-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 P43 million (or AUD 1.25 million). The Macquarie-Investing in Women RISE Fund was formally launched on 17 November 2020 at a signing ceremony led by the Australian ambassador to the Philippines, HE Steven J. Robinson AO and Eric Yaptangco, division director, Manila technology and office head, Macquarie Group.
“Women will play a central role in the recovery from COVID-19 and should have an equal part in a more resilient, inclusive and broad-based Philippine economy. The Macquarie Investing in Women RISE Fund will support and boost women’s SME and help to build back better in the Philippines,” explained Ambassador Robinson AO. “Closing the gap between women’s and men’s access to capital will provide a significant boost to economic growth at a time when it is much needed.”
TDT(2020, November 22). Australian govt, foundation support women-led enterprises. Tribune.net.ph. Retrieved from https://tribune.net.ph/index.php/2020/11/22/australian-govt-foundation-support-women-led-enterprises/