Kiva is teaming up with global financial services provider Manulife to launch a groundbreaking $1 million partnership to scale financial inclusion and impact on the lives of entrepreneurs and financially excluded communities, particularly in Southeast Asia.
The collaboration will uplift entrepreneurs through strategic investments over the next three years. With a shared commitment to supporting underserved populations, Kiva and Manulife will make a difference in the lives of thousands of entrepreneurs worldwide.
“We are proud of our partnership with Kiva, which will help hundreds of entrepreneurs to unlock the financial resources they need to build thriving enterprises and transform their communities,” said Sarah Chapman, Manulife’s Chief Sustainability Officer.
"This commitment underscores the power of blended finance in helping us reach underserved individuals and communities in key emerging markets in Asia. As this partnership unfolds, we look forward to better engaging our customers, agents, colleagues, and all our stakeholders through inspiring local activation campaigns in Cambodia, Indonesia, the Philippines, and Vietnam.”
“We are proud of our partnership with Kiva, which will help hundreds of entrepreneurs to unlock the financial resources they need to build thriving enterprises and transform their communities.”
Advancing financial inclusion
Kiva currently works with Lending Partners in the Philippines, Vietnam, Cambodia, and Indonesia and social enterprise borrowers across Southeast Asia. With an infusion of $500,000 from Manulife, Kiva aims to unlock further opportunities for growth and scale with existing partners.
Manulife’s support will additionally enable Kiva to bring on new partners in the region, each handpicked for its mission alignment and dedication to providing financial services to underserved populations. This strategic move will enable Kiva to broaden its impact by reaching new markets and promoting financial inclusion across the region.
The collaboration will also empower Kiva to conduct lean data studies and publish valuable insights on outcomes for borrowers, further strengthening a knowledge base for financial inclusion and ensuring that Kiva continues to help Lending Partners have the most beneficial outcomes for their clients.
Providing direct capital to entrepreneurs
The additional $500,000 from Manulife will establish the Manulife Match Fund to provide direct capital to entrepreneurs. With a revolving loan fund on Kiva.org, organizations can maximize their impact through loan matching and stakeholder engagement programs.
Loan matching enables loans made on Kiva to be automatically matched dollar for dollar, helping lenders multiply their impact and borrowers get funded twice as fast. As loans are repaid, the returned capital is reinvested in the fund, enabling a sustainable approach to empowering entrepreneurs for years to come and multiplying the impact of Manulife’s funding.
"Kiva’s model gives agency to individuals and brings systemic changes through the smallest of steps — both for partners like Manulife who want to bring about change and for entrepreneurs who need financial access to have a shot at bettering their lives."
Reflecting on the partnership, Kiva's CEO Vishal Ghotge stated, "Kiva is excited to partner with Manulife to expand our work towards creating a financially inclusive world where all people hold the power to improve their lives. Kiva’s model gives agency to individuals and brings systemic changes through the smallest of steps — both for partners like Manulife who want to bring about change and for entrepreneurs who need financial access to have a shot at bettering their lives. It's an honor to join hands with Manulife in pursuit of our shared vision for a more equitable financial future.”
Expected outcomes from the partnership
The partnership with Manulife has set ambitious goals that will create a tangible impact on a global scale. The expected outcomes include:
Advancing financial inclusion through streamlined and enhanced capabilities and efficiencies of Kiva’s Lending Partners.
Providing a funding boost to entrepreneurs in Southeast Asia and across the globe, helping them to grow their businesses and improve their livelihoods.
Launching the partnership
The partnership kicks off by deploying the Manulife Match Fund to match loans on Kiva's platform, which will multiply the impact of every dollar lenders contribute, driving more funding to entrepreneurs. The official launch of the partnership is October 3rd. You can mark the occasion by making a matched loan on Kiva.org — while matching funds last.
