Grab sets $20 million vaccination plan in Southeast Asia

MANILA, Philippines — Grab Holdings Inc. has earmarked $20 million to provide free COVID-19 vaccination for its delivery and driver partners in Southeast Asia, a move that is part of a bigger support program initiative it aims to undertake.  

The Singapore-based ride-hailing company said it plans to create an endowment fund of $275 million in cash and Grab shares to support programs that would have lasting impact on the quality of life of its driver, delivery, and merchant partners in the region.  

 Grab said it would seed the fund with $50 million in cash and $200 million in expected value of Grab shares.  

The fund will also include a combined $25 million in personal contribution of Grab shares from CEO and co-founder Anthony Tan, co-founder Tan Hooi Ling and president Ming Maa.  

“Since our founding, Grab has been dedicated to our mission of creating economic empowerment for everyone in Southeast Asia. The 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,” Tan said.  

As a near term initiative, Grab has allocated up to $20 million in cash from the fund to fully subsidize the cost of vaccines and vaccine administration of eligible driver and delivery partners who are not covered by a national vaccination program.  

Grab said it has started sourcing for vaccines, and would look into setting up vaccine centers to inoculate eligible partners locally.  

“The GrabForGood Fund will commence immediate work on meeting the urgent need for COVID-19 vaccines, where it’s not easily available,” Tan said.  

 “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. Our aspiration is to create lasting positive impact in every country we operate in,” he said.  

Grab Philippines has implemented programs that aim to help Filipinos overcome their everyday challenges and improve their quality of life through its technology and platform.  

Among these initiatives is a program to support the growth of Filipino social sellers through training, solutions, and tools from the Grab platform.  

Grab Philippines has also helped many local businesses in their digitalization journey through a program in which it provides the necessary tools and solutions for local businesses so that they can better reach and serve their customers online.