The Visa Foundation has announced it is providing $210mn in funds to support small businesses.
In Brief:
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This will be spread across two funds for small and micro enterprises impacted by Covid-19.
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The foundation will offer capital to NGOs and investment partners.
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This is an extension of its commitment to inclusive economic development.
What does this mean?
In particular the Visa Foundation is committed to supporting women, who will be hardest hit economically by the pandemic along with small businesses. Visa says it has a responsibility as a global company with local partners to support long term recovery and help small businesses.
