Manulife enters $1m partnership with Kiva

The partnership will create a revolving fund for microentrepreneurs

Manulife has entered into a partnership with global non-profit lending platform Kiva through a $1m investment over three years.

The partnership will create the Manulife Match Fund, a revolving funding mechanism that uses Kiva’s lending platform to fund microentrepreneurs.

The partnership will provide a funding boost to microentrepreneurs and underserved communities focusing on Cambodia, Indonesia, the Philippines, and Vietnam.

The $1m investment will be used to help increase Asia-focused lending capacity by scaling up Kiva’s lending partners, with a focus on Cambodia, Indonesia, the Philippines, and Vietnam, increasing their capacity for funding loans for aspiring microentrepreneurs.

Kiva partners with microfinance institutions, nonprofits, and other organizations to disburse loans in underserved communities. Individuals, businesses, or other organisations can to microentrepreneurs either in part or in full. Once paid back, that amount can then be used to fund other projects.

This collaboration will also help 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.

“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 across the region,” Sarah Chapman, Global Chief Sustainability Officer at Manulife said.