The holding firm of Singapore-based ride-hailing app Grab will put up a $275 million fund (about P13.3 billion) to fully subsidize the vaccination of its drivers and partners as well as to provide livelihood support to target communities.
Grab Group CEO and co-founder Anthony Tan said the endowment fund called “GrabForGood Fund” will be “a key pillar of our efforts to uplift Grab partners and our broader community, and represents a meaningful next step in our long-term commitment to Southeast Asia.”
Grab Holdings said that $20 million in cash from the fund has been allocated to cover the COVID-19 vaccination of its eligible driver- and delivery-partners not covered by a national vaccination program. The technology firm said that it has started sourcing vaccines and will look next into setting up vaccine centers for the inoculation program.
Grab Holdings said the fund will also support a mix of programs aimed at delivering long-term social and environmental impact in areas such as education, financial support for underserved communities, and environmental issues.
An advisory board will be established to help steer how the funds will be spent.
“The GrabForGood Fund will commence immediate work on meeting the urgent need for Covid-19 vaccines, where it’s not easily available. Over time, we’re planning to introduce other programs that will provide the foundation for social and economic mobility, and give more people access to opportunities to upgrade and improve their lives,” said Tan.
A number of private companies have also started programs to inoculate its workforce as part of efforts to claw out of the pandemic, which has badly battered livelihoods. In the Philippines, the private sector’s vaccination push was jumpstarted by tripartite agreements with the manufacturing company and the national government under COVID-19 vaccines covered by emergency use authorization.
(Thumbnail and banner photo from Grab)