A new alliance has been launched at the World Economic Forum uniting 40 leading organisations to help social entrepreneurs overcome the impact of Covid-19, with an initial funding of $75 million available for the purpose.

The “Covid Response Alliance for Social Entrepreneurs” pools the knowledge, experience and responses of the organisations to alleviate people's sufferings and advance new models of change for a more inclusive, equitable and sustainable world.

The alliance also aims to coordinate between member organisations and amplify the support for social entrepreneurs under extreme stress by the pandemic, a press release issued by the WEF said.

The initiative will also feature covidcap.com, a searchable database of emergency funds available to non-profit and for-profit entrepreneurs during Covid-19. The dashboard contains global capital relief offers worth over $1 trillion.