Several impact investing networks have formed a coalition to facilitate COVID-19 related impact investments, the Global Impact Investing Network said Tuesday.

The Response, Recovery, and Resilience Investment Coalition, will be managed by GIIN, a non-profit organization aimed at increasing the scale and effectiveness of impact investing around the world. Initial supporters for the R3 Coalition include the David and Lucille Packard Foundation, Ford Foundation, John D. and Catherine T. MacArthur Foundation, Open Society Foundations, Rockefeller Foundation and Sorenson Impact Foundation.

The R3 Coalition’s goal is to streamline impact investing efforts that address the social and economic consequences of the coronavirus pandemic through opportunities such as health interventions and access to capital. It will also target financing gaps and coordinate efforts to direct new capital to high-impact solutions, and share lessons learned with the wider investment community.

The crisis “underscores the need for bigger and better collaboration,” GIIN CEO Amit Bouri said in an interview.

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