Visa commits USD 210 mln to support small businesses during COVID-19

Tuesday 7 April 2020 11:40 CET | News

The Visa Foundation has announced the commitment of two programmes totalling USD 210 million to support small and micro businesses during the COVID-19 outbreak.

The first programme of USD 10 million will fund immediate emergency relief efforts to support charitable organisations on the frontlines of the pandemic. This includes health and food relief in North America, Latin America and the Caribbean, Europe, Asia-Pacific, and the EMEA region. 

The second programme is a five-year, strategic USD 200 million commitment to support small and micro businesses around the world. Its focus is on fostering women’s economic advancement. 

Through the USD 200 million programme, Visa will provide USD 60 million in grants to NGOs dedicated to supporting small and micro business owners. The foundation will also allocate USD 140 million with investment partners that generate positive social and financial returns for small and micro businesses.

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Keywords: Visa, small businesses, COVID-19, funding
Categories: Banking & Fintech | Payments General
Countries: World
This article is part of category

Banking & Fintech