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In response to the widespread impact of COVID-19, the Ford Foundation announced that substantially increase the amount of money it can distribute in the coming years and to make grants directed at building the resilience in the nonprofit sector and stabilising and strengthening key nonprofit organisations, it will issue $1 billion in social bonds, a first for the foundation.
To raise the money, the foundation — one of the US’s most well-known and oldest charitable organisations, will issue a combination of 30 and 50 year bonds, a financial manoeuvre common among governments and companies but extremely rare among non-profit groups.