EDFI joins the New Response, Recovery, and Resilience Investment Coalition
Impact investors around the world have long contributed to addressing global challenges such as climate change, poverty alleviation, access to healthcare, and more. Unfortunately, as the COVID-19 pandemic continues evolve, we are seeing devastating impacts on global public health, disruptions to business and livelihoods, as well as many longer-term impacts to come on economic and social development. That is why now, more than ever before, we need impact investors to play a powerful role in addressing the broader ripple effects of this crisis.
The Response, Recovery, and Resilience Investment Coalition (‘R3 Coalition’) aims to accelerate and amplify efforts to mobilize and coordinate impact investors to quickly fill financing gaps in efforts to address the devastating coronavirus crisis. This initiative is a collaboration across prominent impact investing networks – to be managed by the Global Impact Investing Network (GIIN) as the organizing body – and is supported by a group of leading foundations. The R3 Coalition will be brought to life largely through virtual meetings that will connect the relevant impact investors to one another – and to the information and opportunities that can help transform the response to the COVID crisis.The R3 Coalition will focus on maximizing global impact investing response efforts by:
- Surfacing high-impact investment opportunities, particularly those related to health interventions and access to capital, for investors seeking new COVID-19 related investments;
- Identifying and filling financing gaps, and coordinating efforts among relevant impact investors to direct new capital to high-impact solutions;
- Sharing learnings, insights, and resources with the wider investment community to inform and support longer-term economic recovery and resilience efforts.
“We applaud GIIN’s initiative to set up the R3 Coalition and we immediately wanted to support it. It is a welcome platform for the European DFIs to explore how we can join forces in our crisis response with an impressive group of impact investors. These investments are needed now to help businesses in vulnerable countries through the crisis, to save jobs, and to boost crucial supply chains for example such as for healthcare and agri-food products,” explains Søren Peter Andreasen, CEO of EDFI.
Funders and Current Partner Networks of the R3 Coalition
Funders: David and Lucile Packard Foundation, Ford Foundation, John D. and Catherine T. MacArthur Foundation, Open Society Foundations, The Rockefeller Foundation, and Sorenson Impact Foundation.
Partner Networks: Aspen Network of Development Entrepreneurs (ANDE), AVPN, B Lab, EDFI – Association of European Development Finance Institutions, European Venture Philanthropy Association (EVPA), Global Impact Investing Network (GIIN), India Impact Investors Council (IIC), Mission Investors Exchange (MIE), Synergos, Toniic, and U.S. Impact Investing Alliance.