25 November 2020 | Media Coverage

Philippines chosen for Australia’s P43 million funding for women’s SMEs

MANILA, Philippines — The Philippines has been selected as the first country in the region to be granted Australia’s $1.25-million (P43-million) program to inject capital for women-owned and women-led businesses to help recover from the impact of the coronavirus pandemic.

In response, Investing in Women, an initiative of the Australian government, launched the Investing in Women RISE Fund – Responsive Interventions Supporting Entrepreneurs to inject capital for women-led small and medium enterprises (SMEs) in the southeastern 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.

The Macquarie-Investing in Women RISE Fund was formally launched last Tuesday at a signing ceremony led by Australian Ambassador Steven Robinson and Manila Technology division director and Macquarie Group office head Eric Yaptangco.

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Brago, P.L. (2020, November 23). Philippines chosen for Australia’s P43 million funding for women’s SMEs. Philstar.com. Retrieved from https://www.philstar.com/headlines/2020/11/23/2058790/philippines-chosen-australias-p43-million-funding-womens-smes

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