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The Visa Foundation announced a commitment of two programs totaling $210 million to support small and micro businesses, aligning with the Foundation’s long-term focus on women’s economic advancement and inclusive economic development, and to address an urgent need from local communities following the spread of COVID-19.
The first program of $10 million is designated for immediate emergency relief to support charitable organizations on the frontlines responding to the COVID-19 pandemic, such as public health and food relief, in each of the five geographic regions in which Visa operates: North America; Latin America and the Caribbean; Europe; Asia Pacific; and Central Europe, Middle East and Africa.
The second program is a five-year, strategic $200 million commitment to support small and micro businesses around the world, with a focus on fostering women’s economic advancement. This action expands the Visa Foundation’s long-standing support for small and micro businesses globally. The funds from the Visa Foundation will provide capital to non-government organizations (NGOs) and investment partners supporting small and micro businesses.
Full story: https://www.businesswire.com/news/home/20200406005067/en/Visa-Foundation-Commits-210-Million-Support-Small