Global impact investing network unveils Covid-19 coalition
The Global Impact Investing Network (GIIN) on Tuesday launched the Response, Recovery and Resilience investment coalition (R3 Coalition) in a bid to consolidate impact investing efforts seeking to address social and economic consequences triggered by the Covid-19 pandemic.
Major impact investing networks, including the association of European development finance institutions (Edfi), the US Impact Investing Alliance and the European venture philanthropy association (Evpa), will gather through the GIIN initiative which is supported by a few foundations (Open Society Foundations and The Rockefeller Foundation among others).
The GIIN said the initiative will focus on seeking high-impact investment opportunities, particularly those related to health interventions and access to capital; 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.
“Impact investing is more important than ever. Impact investors have been at the forefront of driving innovative solutions and in galvanizing collective action towards solving some of the world’s most pressing challenges. We must lean into this moment and into this leadership role to help address the needs arising from the current global crisis,” commented the GIIN’s co-founder and CEO Amit Bouri.