MICROCAPITAL BRIEF: 40 Funders Commit $75m via World Economic Forum COVID Response Alliance for Social Entrepreneurs

The World Economic Forum, a Switzerland-based nonprofit, recently convened the COVID Response Alliance for Social Entrepreneurs, through which 40 organizations are aligning their efforts to reduce the economic and other impacts of the COVID-19 pandemic. These 40 organizations support 15,000 entrepreneurs who have served a total of 1.5 billion customers in 190 countries by “protecting livelihoods; mitigating millions of tonnes of carbon dioxide; improving access to health, sanitation, education and energy; [and having] driven social inclusion movements for the disabled, homeless or those with refugee status.”

The alliance members have committed a total of USD 75 million in response to the pandemic. In addition, they are working together to assess needs; increase recovery funding; coordinate legal, technological and procurement efforts; and advocate for policies that will assist social entrepreneurs in mitigating the effects of and recovering from COVID-19.

The members of the alliance are: Aavishkaar Group, Acumen, Africa Venture Philanthropy Alliance, Aspen Network of Development Entrepreneurs, Ashoka, Asian Venture Philanthropy Network, B Lab, Bertelsmann Stiftung, CASE at Duke University, Catalyst 2030, Co-Impact, Draper Richards Kaplan Foundation, Echoing Green, European Venture Philanthropy Association, Fundación Avina, GHR Foundation, Global Innovation Fund, Global Steering Group for Impact Investing, Global Impact Investing Network, Greenwood Place, IKEA Foundation, IKEA Social Entrepreneurship, Impact Assets, Impact Hub, International Labour Organization, Johnson & Johnson, Kiva, LatImpacto, Lex Mundi Pro Bono Foundation, Mercy Corps Ventures, Motsepe Foundation, NESsT, Nonprofit Finance Fund, Rippleworks, Root Capital, Salesforce.org, SAP, Schwab Foundation, Skoll Foundation, USAID Center for Innovation and Impact and Yunus Social Business.

The World Economic Forum describes itself as “the international organization for public-private cooperation.” It was founded in 1971 and is known for its annual meetings in the Swiss towns of Davos and Klosters. During the year ending June 2019, the NGO brought in revenue of CHF 345 million (USD 355 million).

Sources and Additional Resources

COVID Response Alliance for Social Entrepreneurs website
https://www.weforum.org/reports/covid-social-entrepreneurs-alliance

World Economic Forum homepage
https://www.weforum.org

More news on COVID-19
https://www.microcapital.org/?s=covid

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