Doha, December 23 (QNA) - Qatar Fund for Development (QFFD) signed an agreement with Impact Credit Solutions Pte Ltd (ICS) as a response not only to COVID-19 pandemic, but also to benefit the Indonesian Health Sector at large.
This newly born Impact Investment fund will provide rapid response impact seed funding together with a much-needed liquidity platform primarily to women entrepreneurs in addition to the healthcare and food distribution sectors for the early and mid-stage SMEs in Indonesia.
During the COVID-19 pandemic small businesses in the healthcare and essential goods' sectors continue to suffer from a severe lack of financial support to optimally serve patients and consumers in need. This gap in social investments has resulted in an extremely large number of patients deprived off necessary healthcare provided by the relevant facilities.
Since the establishment of QFFD in 2012, economic empowerment has been one of its top priority areas while collaborating with strategic partners. As the Indonesian economy continues to confront rising struggles which affect their small businesses and essential goods, in alignment with QFFD's vision the contribution to support the Indonesian Resilience fund is important to support the health sector in Indonesia.
Therefore, the fund provided by QFFD will provide capital through an investment to IRF managed by Impact Credit Solutions that will disburse the funds to small businesses in the target segments, with a focus on women borrowers and beneficiaries to have wider access to medicine and other healthcare supplies.
This Impact Investment Facility reflects QFFD's vision to provide access to quality healthcare and to enhance economic empowerment initiatives within vulnerable communities. (QNA)