A group of 40 global aid agencies and charities have launched an alliance to help social entrepreneurs weather the coronavirus crisis, saying they provided a vital safety net for some of the world’s poorest people. Backed by the World Economic Forum (WEF), the alliance is made up of 40 leading global organisations including the Schwab Foundation, Yunus Social Business and USAID. Members of the partnership, called the COVID Response Alliance for Social Entrepreneurs, collectively support more than 15,000 social entrepreneurs who help vulnerable and marginalised groups in about 190 countries. With many countries living under strict lockdowns, it has become harder for social entrepreneurs – many of whom are directly responding to the crisis – to keep their businesses afloat. The alliance, which also includes the Skoll Foundation, Ashoka, the IKEA Foundation, the Global Impact Investing Network and Aspen Network of Development Entrepreneurs, has collectively raised $75 million to help social entrepreneurs in the crisis.

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