Innovest Advisory committed to mobilizing more than $7 million in debt and equity over the next two years to invest in projects that will directly support refugees. This commitment is part of Innovest’s strategy to source and curate opportunities for social purpose investors to invest in commercial business ventures that intentionally benefit refugees and/or host communities.
The commitment projects include creating new jobs for refugees in the apparel industry in Turkey and Jordan, providing access to finance for refugees in Jordan, Uganda, and Somalia, and offering affordable solar home systems to refugees in Kenya. Innovest will work alongside partner organizations such as the First Syrian Exporters Group, a consortium of Syrian owned garment businesses in Turkey, Pawame, an off-grid solar company in Kenya operating in Kakuma camp, KIMS Microfinance, the leading microfinance provider in Somalia, and FSI, a provider of ethical labor in recruiting and hiring refugees. It is estimated that these projects will create more than 6,000 employment opportunities for refugees, in addition to job opportunities for host communities.