Macquarie Group Foundation has announced a grant partnership with Ayala Foundation, committing PHP 19 million to support social entrepreneurship and youth leadership in El Nido, Palawan, Philippines. This three-year grant aims to assist six community-based social enterprises in agriculture, fishery, transport, and weaving through capacity building and business innovation funding.
Aligned with the national goal of reducing poverty from 18% in 2021 to 9% by 2028, Ayala Foundation intends to increase local monthly income levels for beneficiaries to at least PHP 19,000 by the program's end in 2028. The foundation also plans to expand membership in these enterprises from 586 to 700.
Ayala Foundation's youth leadership development program focuses on job readiness and social entrepreneurship. It targets graduating senior high school students and children of enterprise members, aiming to prepare them for employment within six months after graduation. Annually, the foundation seeks to train 100 high school students.
Jasmine Chew, Regional Head of Asia for Macquarie Group Foundation, stated: “There are huge opportunities to drive positive changes. Our latest grant provided to the Ayala Foundation underscores our collective commitment to empowering young people, women, and underserved minorities with the necessary resources and support to create better job opportunities and business outcomes.” She added that this partnership highlights Macquarie’s dedication to addressing employment barriers in Asia.
Tony Lambino, President of Ayala Foundation said: “We believe that communities thrive when they are given the means to shape their own futures. As an integrator of socioeconomic interventions, working closely with partners like Macquarie enables us to better address the needs of the communities we serve."
The collaboration between Macquarie and Ayala Foundation began in 2020 when AFI received a COVID-19 donation fund grant. In subsequent years, further grants supported various programs including youth capacity building sessions.
Macquarie Group Foundation contributed over $A5 million in FY24 across Asia supporting more than 502 non-profit organizations. In addition to this recent initiative with Ayala Foundation, Macquarie continues its efforts towards breaking employment barriers through partnerships across the region.