The issue

Around the world, independent public interest media is under threat. Traditional business models, which had been eroding for a decade or more, are beginning to collapse, particularly as sources of advertising revenue shrink and move online. These problems, which are most acute in low- and middle-income countries, were only exacerbated by the COVID-19 pandemic.

Through unlocking new financial resources to support public interest media in low- and middle-income countries, the International Fund hopes to address these challenges and forge a sustainable future for global media ecosystems.

The fund

The International Fund’s unique structure is designed to enable a broad multilateral coalition to unlock new resources in support of public interest media globally while maintaining the independence of both the Fund and its public interest grantees.

At the 2022 Paris Peace Forum, Minister for Europe and Foreign Affairs Catherine Colonna reaffirmed France’s commitment to IFPIM following President Macron’s endorsement of the Fund. France will host the International Fund’s headquarters in Paris and provide up to €15 million EUR in support to the Fund for between 2022 and 2024.

The International Fund is co-chaired by Maria Ressa, Nobel Peace Prize winner and co-founder and CEO of Rappler, and Mark Thompson, former president and CEO of The New York Times Company.

Pilot funding round

Following significant early resource mobilization and the dire need expressed by media organizations in focus regions, the International Fund announced its inaugural open call for grant proposals at World Press Freedom Day in May 2022. That call resulted in more than 200 funding applications, from which the International Fund’s first cohort of 11 grantees was selected. 

Located across eight countries, these initial grantees comprise a broad diversity of organizations in terms of geography, language, editorial content, content distribution platforms, business models, and organizational maturity. The cohort is roughly evenly split across commercial, non-commercial, and hybrid business models. A majority are digital natives, publishing content primarily via their website and/or social media channels, and a little under one–third are primarily broadcast or print media.

Support for the fund

Leading up to its launch, the International Fund had received endorsements from a range of world leaders, including UN Secretary General Guterres, US President Biden, French President Macron, former New Zealand Prime Minister Jacinda Ardern, and former Ghanaian President John Kufuor.

Generous financial support from a range of government, corporate, and philanthropic donors has provided the resources needed to build and launch the International Fund, which will continue to scale up as additional funds are mobilized. To date, IFPIM has received nearly $50 million USD in financial contributions to support its set-up and launch, which is expected in the first half of 2023.