The collaboration aims to provide crucial support to entrepreneurs on a global scale while extending Kiva’s influence in Southeast Asia.
The news follows on from Manulife Investment Management’s appointment of Kenny Lam to the role of chief investment officer and head of transactions for Asia Pacific real estate, in a move that will see the company expand its interests regarding real estate opportunities.
As part of the partnership with Kiva, Manulife is contributing $500,000 to bolster Kiva’s capacity, specifically focusing on expanding its outreach to borrowers in the Philippines, Vietnam, Cambodia, and Indonesia. The remaining funds will be directly allocated to financing loans, with the establishment of the Manulife Match Fund. This unique fund will effectively double individual contributions made through the Kiva platform, facilitating faster realization of borrowers’ aspirations.
According to reports, the initiative aligns seamlessly with Manulife’s Impact Agenda, particularly the promotion of inclusive economic opportunities on a global scale. Both Manulife and Kiva share a common belief that, at the heart of addressing global challenges, lies the collective effort of individuals striving to build a better future. The partnership reflects Manulife’s commitment to investing in these endeavours, especially in light of its expanding presence in the dynamic landscape of Asia.
As Manulife and Kiva join forces, the collaboration underscores their shared vision of empowering communities and contributing to sustainable solutions for the world’s most pressing challenges.
“There’s power in collective impact, where individuals from around the world can pool together resources to support entrepreneurs in other parts of the world,” said Tom Crohan, Manulife’s Global Head of Community Investment.
Author: Joanna England
