Omidyar Network, The Rockefeller Foundation, and the United States Agency for International Development (USAID) announced today a collaboration to promote impact investing through research, outreach, and other field-building activities undertaken by the Global Impact Investing Network (GIIN).
Together, the organizations pledge $6.5 million to support GIIN’s work to help accelerate the development of a coherent impact investing industry.
Impact investments are investments made into companies, organizations, or funds with the intention to generate positive measurable social and environmental impact alongside a financial return. They are an opportunity to steer significant capital to market-based solutions in sustainable agriculture, affordable housing, affordable and accessible healthcare, clean technology, financial services for the poor, and other sectors addressing the world’s most pressing problems in both emerging and developed markets.
“Impact investing promises to improve billions of lives by catalyzing sectors, from affordable, high-quality education to clean, solar lighting,” said Matt Bannick, Managing Partner of Omidyar Network, in a news release. “Omidyar Network’s support of the mission and the team at the GIIN is founded on the belief that the GIIN is uniquely positioned to accelerate the growth of impact investing globally.”
Funding will be distributed to GIIN over three years and used to help attract more investment capital in poverty alleviation and environmental solutions. Support from Omidyar Network totals $2.5 million. The Rockefeller Foundation and USAID have each granted $2 million. USAID’s funding will support impact investing in emerging markets. Funding from Omidyar Network and The Rockefeller Foundation will support projects worldwide.
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