Foundations Establish $5 Million Covid-19 Response Fund to Focus on the Global Economy
Working people in the global South have been devastated by the economic fallout from COVID-19. This piece in the Chronicle of Philanthropy explores how funders joined forced to launch the Response and Vision Fund to advance a global economy that benefits all people and the planet.
Published in The Chronicle of Philanthropy | JUNE 29, 2020
Foundations Establish $5 Million Covid-19 Response Fund to Focus on the Global Economy
By Alex Daniels
A group of grant makers including the Ford and Open Society foundations has pooled $5 million in a fund that seeks to quickly help people harmed by the coronavirus pandemic and offer long-term changes to a global economic system they view as broken.
The Response and Vision Fund was created by a group of foundation leaders called Funders Organized for Rights in the Global Economy, or Forge. The group has been meeting for more than a year to share views on how to help protect vulnerable populations, including women, workers, migrants, and members of racial and ethnic minorities, from the harm caused by poverty, human-rights violations, and the effects of climate change.
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The Ford Foundation is an independent organization working to address inequality and build a future grounded in justice. For more than 85 years, it has supported visionaries on the frontlines of social change worldwide, guided by its mission to strengthen democratic values, reduce poverty and injustice, promote international cooperation, and advance human achievement. Today, with an endowment of $16 billion, the foundation has headquarters in New York and 10 regional offices across Africa, Asia, Latin America, and the Middle East.