Press Release: A First-of-Its-Kind USD $1,500,000 Philanthropic Pooled Fund Created to Strengthen Healthcare Systems in Southeast Asia
Five philanthropic organisations in Asia – including the Bill & Melinda Gates Foundation, Chevron, Johnson & Johnson, Macquarie Group Foundation, and Sequoia Capital India – have come together to pool USD 825,000 in the first close of pooled philanthropic grant capital. Funds will be distributed to organisations that are providing primary healthcare services for rural or last-mile communities in Southeast Asia.
In addition, KKR will be launching another round of funding through the KKR Global Relief Fund for Economic Recovery that will provide financial support to the best nonprofit leaders and organisations on the front lines. In Asia, the KKR APAC Relief Fund for Economic Recovery will be deployed in collaboration with AVPN. We will adopt an accelerator model that will seek out social entrepreneurs and changemakers who are working at the intersection of Covid-19 and workforce development.
With plans to open up additional single-purpose and pooled philanthropic funds to move capital towards other critical areas of social need, AVPN continues to find innovative ways to move capital towards impact.
Covid-19 has exacerbated existing gaps within the healthcare systems Many Southeast Asian countries have been under pressure as they struggle to manage short and medium term needs. From an insufficient team of qualified frontline healthcare workers to poor data management to a lack of new technologies around last-mile healthcare provision, these challenges have created a severe bottleneck in delivering primary healthcare services across the region.
These stresses have also disrupted progress towards decades of hard-fought gains for economic opportunities, gender equality, climate impact, and more – which may even outweigh the direct impact of Covid-19. Moving Capital Moving Capital Towards Impact Towards Impact https://philanthropicfunds.avpn.asia A stronger primary healthcare system will help to mitigate the effects and impact of the pandemic, and provide a platform for us to rebuild a more resilient Asia.
Strategic philanthropic efforts can create systemic change In response, grantmakers have been individually providing greater philanthropic support to bridge these healthcare gaps. AVPN saw an opportunity to consolidate these efforts for collective impact. To date, five philanthropic funders, including the Bill & Melinda Gates Foundation, Chevron, Johnson & Johnson, Macquarie Group Foundation, and Sequoia Capital India, have rallied around a shared cause and have pooled capital worth USD 825,000 in the first AVPN Philanthropic Pooled Fund for Primary Healthcare Services.
The Vision for the Pooled Fund – through the Eyes of the Funders “The Bill & Melinda Gates Foundation has long believed in the power of collaborative philanthropy to mobilize capital and unite partners to achieve a common goal. We are happy to join this effort to respond to the COVID-19 crisis and strengthen primary healthcare services across Asia.” – Bill & Melinda Gates Foundation
“Across the globe, Chevron is helping communities respond to COVID-19, with contributions towards medical needs, essential workers, education, food banks, small businesses and more. We are proud to support AVPN’s Philanthropic Fund that will strengthen the primary healthcare system and help build a more resilient Asia.” – Kurt Glaubitz, General Manager, Chevron Eurasia Pacific Corporate Affairs
“We’re proud to support the first round of AVPN’s Philanthropic Fund, an innovative initiative seeking to uncover under-supported social impact opportunities and strengthen non-profits across our region. Responding to the local impacts of COVID-19 is crucial and this collaborative approach enables us to have an immediate impact in the short-term as well as contributing to a stronger ecosystem in the longer-term.” – Susan Clear, Regional Head of Macquarie Group Foundation, Asia
The Fund will benefit charities and non-profit organisations in Indonesia, Philippines, Malaysia, and Thailand that are improving the access and delivery of last-mile healthcare services in these countries. These services can include: building the capacity of frontline healthcare workers; improving clinics’ distribution channels; and, access to health technology. If organisations have been successfully working on Covid-19 related healthcare Moving Capital Moving Capital Towards Impact Towards Impact https://philanthropicfunds.avpn.asia relief and resilience solutions, and have the potential to provide long-term local services, they can take advantage of the opportunity by applying by 31 May 2021 to receive grants from USD 100,000 to USD 300,000.
Building a philanthropic roadmap for Asia Looking forward, AVPN will be working with member organisations to explore philanthropic and pooled funds that will tackle other critical social issues. AVPN’s presence on the ground in 12 Asian markets empowers the network to find and fund under-supported social impact opportunities. This is especially valuable while our members face travel restrictions during the pandemic. “The potential for collaborative philanthropy in Southeast Asia is immense,” says Naina Subberwal Batra, Chairperson and CEO of AVPN. “Philanthropic collaboratives are in a unique position to pool resources from like-minded stakeholders. No one organisation can achieve impact at scale – partnering with unusual allies from across the social investor ecosystem reveals opportunities for delivering greater impact in innovative ways.”
Source: AVPN (link opens in a new window)
- Coronavirus, Health Care