# Visa Foundation commits $210 Million to emergency Covid-19 relief

- Link: https://fundraising.co.uk/2020/04/08/visa-foundation-commits-210-million-to-emergency-covid-19-relief/
- Published: 2020-04-08T09:55:52+01:00
- Author: Melanie May

**The Visa Foundation is committing $210 million in two programmes to support both
local communities and small and micro businesses struggling as a result of the pandemic.**

 

 

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The first [Visa Foundation](https://usa.visa.com/about-visa/philanthropy/visa-foundation.html)
programme of $10 million is to provide immediate emergency support for charities
on the frontlines responding to the COVID-19 pandemic, such as public health and
food relief, in each of the five geographic regions in which Visa operates: North
America; Latin America and the Caribbean; Europe; Asia Pacific; and Central Europe,
Middle East and Africa.

 

 

 

Al Kelly, CEO and chairman of Visa, said:

 

 

 

> “As COVID-19 continues to unfold, communities are feeling the effects and need
> our immediate support. As a global company that operates a very local business,
> we recognise this need. We’re also committed to the long-term recovery and will
> continue to explore ways we can accelerate economic activity in line with our 
> mission to help individuals, businesses and economies thrive.”

 

 

 

As well as addressing the current urgent need for support, the move aligns with 
the Foundation’s long-term focus on supporting women’s economic advancement and 
inclusive economic development.

 

 

 

As such, the second programme is a five-year, strategic $200 million commitment 
to support small and micro businesses around the world, with a focus on fostering
women’s economic advancement. The funds from the Visa Foundation will provide capital
to NGOs and investment partners supporting small and micro businesses.

 

 

 

Through the $200 million small and micro business programme, the Visa Foundation
will provide $60 million in grants to NGOs dedicated to supporting small and micro
business owners, many of whom are women, in every region where Visa operates. The
Visa Foundation will also allocate $140 million with investment partners that generate
positive social and financial returns for small and micro businesses.

 

 

 

Graham Macmillan, President of the Visa Foundation commented:

 

 

 

> “Two hundred million dollars in new financial resources demonstrates our continuing
> commitment to support small and micro businesses, with a focus on women’s economic
> advancement globally. When women thrive, communities thrive. We know this matters
> now more than ever as the global economy seeks to recover and rebuild.”

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