Coca-Cola Foundation partners with Kiva to help 45,000 entrepreneurs access capital

The announcement was made at the Diversity, Equity and Inclusion (DEI) Conference themed “Level the Playing Field” held by Coca-Cola in Sydney, Australia.

Over the next five years, Change Make Her will operate as a revolving loan fund, supporting entrepreneurs in Southeast Asia, the South Pacific, Africa, Latin America and Europe in a number of areas including sustainable agriculture , climate change adaptation, clean water and retail.

Repayments from borrowers will go back into the fund, allowing borrowers around the world to continue to borrow and re-borrow, said Saadia Madsbjerg, president of the Coca-Cola Foundation. This structure will increase the fund’s lending capacity from $1.1 million in 2023 to $4.5 million in 2028.

“We are excited to announce a new partnership between Coca-Cola and Kiva that goes beyond traditional lending,” said Madsbjerg. “By working with like-minded lenders and partners from around the world, Change Make Her will enable us to lend and re-lend to thousands of people. This is a partnership based on the belief in financial access to support communities. Small businesses play a vital role in creating jobs and growing the global economy . We hope that in addition to directly supporting business owners, Change Make Her will create a ripple effect for generations to come, as these supported businesses continue to create new jobs and drive prosperity in their communities.”

Kiva is a global lending platform that connects lenders and borrowers through crowdfunded microfinance. It is an effective strategy for helping people who do not have access to commercial banking services access credit. Coca-Cola continues to work with influential partners around the world to spread progress for women and underrepresented groups in business and society.

A small family in Vietnam receives support from the Kiva fund to improve their lives.

Over the past 17 years, Kiva has lent more than $2 billion to 4.7 million people globally, more than any other crowdfunding platform. Of these, more than 80% of Kiva loans have gone to women, with a repayment rate of 96%. In Vietnam, Kiva has enabled more than $42 million in loans to more than 69,000 borrowers across the country.

Mr. John Murphy, President & CFO of The Coca-Cola Company and Mr. Vishal Ghotge, CEO of Kiva) at the DEI conference.

“Kiva is honored to partner with The Coca-Cola Foundation to expand our financial inclusion efforts through life-changing loans,” said Kiva CEO Vishal Ghotge. “Together, we will be able to serve thousands of people, demonstrating the power of collaboration when organizations align with the same values. We appreciate The Coca-Cola Foundation’s commitment and look forward to working together to continue advancing gender equality, financial support for refugees, and climate-smart solutions for communities around the world.”

Over the past four decades, The Coca-Cola Foundation has supported numerous economic empowerment programs around the world, including the nearly decade-long 5by20 program, which, together with The Coca-Cola Company and its bottling partners, has supported economic empowerment for more than 6 million women.

Through the Change Make Her program, Coca-Cola employees will be able to help fund Kiva loans to entrepreneurs and directly support the mission of the Coca-Cola Foundation. To learn more about the Kiva platform, visit www.kiva.org.

Source: https://baotainguyenmoitruong.vn/quy-coca-cola-hop-tac-cung-kiva-ho-tro-45-000-doanh-nhan-tiep-can-nguon-von-362383.html