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A "first-of-its-kind impact investing network" in the Philippines is putting its money where its mouth is, in the form of collateral-free loans to women-led social and environmental businesses.
The Impact Pioneers Network has opened its doors to early-stage impact enterprises in the country that address "urgent social and climate challenges," the group says in a press release.
The loans are available to women-owned or led businesses that create "direct social or climate impact," with a focus on reducing plastic pollution and boosting agricultural productivity.
"These enterprises provide real hope in the development of our country," says Raymond Serios of Dungganon Bank, one of the network's partners.
Agro-Digital PH, a digital platform that empowers farmers, says the loan will help it expand its farmer network and improve agricultural productivity.
Magnus Renewable Tech Corp., meanwhile, plans to install solar energy systems in communities across the country.
"By unlocking crucial financing to impact enterprises like Magnus Renewable Tech Corp., Agro-Digital PH, and Suds Sustainable Pods, the Network and our partners aim to accelerate sustainable development and empower communities nationwide through innovative solutions," says Priya Thachadi of Villgro Philippines, one of the network's co-managers
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Social Entrepreneurship
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Gates Foundation Pledges $50 Million to Fight Ebola Epidemic
The Bill & Melinda Gates Foundation has pledged $50 million to support emergency efforts to contain the threat caused by Ebola in West Africa.
