To help MSMEs and migrant workers impacted by the COVID-19 pandemic, Omidyar Network India has launched an initiative, ReSolve Initiative.
Omidyar Network India said in a statement that through the ‘ReSolve Initiative’ it seeks to create a portfolio of investments and is aimed to support MSMEs and migrant workers.
Talking about the range of funding, the company said,
“The preferred range of funding will be between Rs 3.75 crore ($500,000) to Rs 15 crore ($2 million) per project, and larger amounts can also be considered.”
Talking about MSMEs and providing support to them, Roopa Kudva, Managing Director of Omidyar Network India, said,
“Both micro, small, & medium enterprises (MSME) and migrant worker issues are longstanding national priorities with a large unfinished agenda. The biggest impact of both is on our focus segment the ‘Next Half Billion’ so we are keen to support new long term solutions.”