With the health, social, and economic ramifications of the COVID-19 crisis spreading across the globe, Finance in Motion and its staff across four continents are witnessing first-hand how some communities are struggling to cope.
In response, the company has designated EUR 100,000 to fund targeted relief projects nominated by its employees. These range from providing protective equipment to taking care of the elderly under lockdown.
“The consequences of this pandemic are multifarious, from a direct health hazard to the myriad social and economic ramifications,” says Finance in Motion Managing Director Elvira Lefting. “As impact investors, our efforts to improve people’s quality of life comes from a place of conviction; for us, it’s not just about business. We are glad to have been able to take swift action over the past weeks to ameliorate some of the challenges being faced by our communities.”
Three examples of these projects are below.
Location: Bogotá, Colombia
Amount: USD 5,000
Purpose: Caring for the elderly in lockdown
Fundación Jeymar was established to help care for the physical and emotional needs of elderly citizens in Bogotá. For 35 years, the foundation has been a gathering point for seniors to socialize, engage in exercise, participate in activities such as dance and gardening, and obtain healthy meals free of charge. Since the novel coronavirus reached Colombia, however, the measures necessary to keep Fundación Jeymar's beneficiaries safe have isolated them from these necessities; meanwhile, the income relied upon by the foundation from its leasing contracts has taken a heavy hit. Finance in Motion’s donation of USD 5,000 will pay for more than a full month of home deliveries to all 155 seniors, providing them with groceries and indoor activities delivered by safety-equipped volunteers who check up on their well-being.
Location: Palestinian Territories
Amount: EUR 15,000
Purpose: Protective gear to Palestinian hospital treating cancer patients
The Augusta Victoria Hospital (AVH) in Jerusalem is the only specialized medical facility in the West Bank or the Gaza Strip providing cancer treatment, dialysis, and pediatrics. Even before the WHO declared the official pandemic in mid-March, the AVH was already in “emergency mode,” trying to manage its dwindling medical supplies to protect its staff and patients from the COVID outbreak, including equipment to detect, prevent, and treat the disease. Nevertheless, supplies and disposables at AVH are depleting rapidly, compounded by market scarcity and high prices. Finance in Motion has donated EUR 15,000 for a month's worth of urgently needed supplies at AVH to provide life-saving medical care to Palestinians in the West Bank and Gaza Strip.
Location: Ghana and Sierra Leone
Amount: EUR 20,000
Purpose: Protecting communities from COVID-19 infection
“No one should feel forced to work in an environment that they feel is putting them at risk.” This is the stance of Miro Forestry with regard to the COVID crisis. Miro, a sustainable forestry company active in Sierra Leone and Ghana, was the first investment of the Arbaro Fund. Today, hundreds of families in rural areas rely on their income from employment with Miro. The company is currently taking a number of measures to keep its workers safe during the outbreak, both on the job and within the community. Finance in Motion has donated EUR 10,000 to each of Miro’s sites in Ghana and in Sierra Leone for hygienic supplies and personal protection equipment. The donation will provide face masks, hand sanitizer, and other supplies to workers, their families and neighbors, and local health service providers.