The establishment of a coalition of partners from the business and social sectors for the rapid implementation of tried and true approaches to address the newly formed socioeconomic disparities, which have surfaced in Israel as a result of COVID-19. The coalition operates by combining traditional and innovative financial tools, such as impact investments and social impact bonds, with behavioral insights.
The outbreak of COVID-19 in Israel has left Israel’s health system, economy, social services, and civil society to cope with a plethora of unprecedented challenges: millions were put on leave or laid off; business owners and freelancers experienced a sharp decline in their income; families struggled to provide their children with a set daily routine that could enable them to attend their remote classes; services for at-risk youth were reduced or terminated; and the elderly, who were self-isolating to the best of their ability, often compromised their health by not seeking medical attention when they needed it. All the while, the public healthcare services were operating under extreme conditions as they battled the coronavirus.
After having faced these challenges, the social organizations are now approaching the finish line of the crisis weaker than ever and lacking the governmental and philanthropical support they need. As a result, the existing socioeconomic disparities are rapidly deepening and new disparities are forming, whose detrimental effects may well be intergenerational for individuals, communities, businesses, and for the country.
The Menomadin Foundation, SFI, OR Movement, Designit, and the Federation of Local Authorities have joined forces to establish a coalition of partners that can plan ahead for the day after the Coronavirus crisis, prepare recommendations and make informed, data-driven decisions. This initiative is focused on empowering local governments in the social & geographical periphery of Israel by providing dedicated funding to operate in the domains of employment, community health systems, and supporting the elderly population.