Qatar Fund for Development (QFFD), a public development institution, has signed an agreement with the Indonesian Resilience Fund (IRF), a $40 million fund managed by Singapore-based Impact Credit Solutions (ICS), to respond to COVID-19 and benefit the Indonesian Health Sector.
This newly established Impact Investment fund will provide rapid response impact seed funding as well as a much-needed liquidity platform for early and mid-stage Small and Middle-sized enterprises (SMEs) in Indonesia, mainly to women entrepreneurs in the healthcare and food distribution sectors.
During the COVID-19 pandemic, small businesses in the healthcare and essential goods sectors continue to suffer from a severe lack of financial support to optimally serve patients and consumers in need. This gap in social investments has resulted in an extremely large number of patients being deprived of necessary healthcare provided by the relevant facilities.
As the Indonesian economy continues to confront rising struggles that affect their small businesses and essential goods, in alignment with QFFD’s vision to support to the IRF is important to support the health sector in Indonesia.
Therefore, the fund provided by QFFD will offer capital through an investment to IRF that will disburse the funds to small businesses in the target categories, with a focus on women borrowers and beneficiaries, to ensure that they have greater access to medicine and other healthcare supplies.
This Impact Investment Facility reflects QFFD’s vision to provide access to quality healthcare and to enhance economic empowerment initiatives within vulnerable communities.
Since 2019, ICS has promoted financial inclusion in Indonesia by ensuring loans offered to small businesses that are affordable for borrowers and attractive to lenders.