MetLife Foundation Partners with Kiva to Support Entrepreneurs and Build Financial Inclusion
May 21 2018 - 3:53AM
Business Wire
MetLife Foundation has partnered with Kiva, a global
non-governmental organization, to support entrepreneurs around the
world through an employee engagement campaign. As part of this
programme, a fully funded US$25 loan has been allocated to each of
MetLife’s 23,000 employees in Asia to help entrepreneurs start,
sustain and grow their businesses. After successful campaigns with
MetLife employees in Europe, Middle East, Africa and Latin America,
the programme has now come to Asia.
Steve Goulart, executive vice president and chief investment
officer, MetLife Inc., and interim president of Asia., said: “For
150 years, we have kept our promises to our customers, and for the
past 42 years, our Foundation has worked to build better
communities everywhere we do business. The collaboration between
MetLife Foundation and Kiva to launch the ‘Take Action’
campaign will offer a unique opportunity to MetLife employees in
Asia to get involved and help people who lack access to traditional
financing.”
“MetLife Foundation is committed to improving the financial
health of low-income people around the world,” said Dennis White,
president and CEO, MetLife Foundation. “A requirement for financial
health is for everyone to have access to quality products that are
safe, affordable, simple to use and designed to meet their needs
and take advantage of opportunities. One way the Foundation
addresses accessibility is by working with organizations like Kiva
that provide ways for low-income people, including entrepreneurs
and small business owners, to access credit and financing.”
To help achieve this mission of building financial inclusion
globally, MetLife Foundation has committed US$200 million in grant
funding over five years with the goal of impacting the lives of
more than two million people.
Since launching in 2005, Kiva has facilitated more than US$1.1
billion in microloans by connecting a growing global community of
1.7 million lenders to 2.8 million entrepreneurs across the world
with 81% of loan recipients being women. As Kiva borrowers repay
their loans, the money can be re-lent to other entrepreneurs,
multiplying the impact of every dollar and providing more
communities with access to fair financial services.
“MetLife was founded on a simple and powerful insight that
everyone needs access to the right financial tools to pursue more
from life,” said Premal Shah, Kiva’s president and co-founder. “We
are proud to be a part of MetLife’s efforts toward that vision.
Through this partnership with MetLife Foundation, they are backing
the dreams of thousands of entrepreneurs around the world,
expanding financial access and empowering MetLife employees to take
part directly in that mission.
About MetLife
MetLife, Inc. (NYSE: MET), through its subsidiaries and
affiliates (“MetLife”), is one of the world’s leading financial
services companies, providing insurance, annuities, employee
benefits and asset management to help its individual and
institutional customers navigate their changing world. Founded in
1868, MetLife has operations in more than 40 countries and holds
leading market positions in the United States, Japan, Latin
America, Asia, Europe and the Middle East. For more information,
visit www.metlife.com.
About MetLife Foundation
MetLife Foundation was created in 1976 to continue MetLife’s
long tradition of corporate contributions and community
involvement. Since its founding through the end of 2017, MetLife
Foundation has provided more than $783 million in grants and $70
million in program-related investments to organizations addressing
issues that have a positive impact in their communities. In 2013,
the Foundation committed $200 million to financial inclusion, and
our work to date has reached more than 3.5 million low-income
individuals in 42 countries. To learn more about MetLife
Foundation, visit metlife.org.
About Kiva.org
Kiva.org is an international nonprofit, with a mission to
connect people through lending to alleviate poverty.
With as little as a $25 loan, anyone can help a borrower create
new opportunities for themselves and their families. Together with
more than 1.7 million Kiva lenders and a worldwide network of
microfinance institutions, Kiva has created economic opportunity
for more than 2.8 million borrowers. Since its inception in 2005,
Kiva lenders have funded more than $1.1 billion in loans with a
98.9% repayment rate. Visit www.kiva.org for more information.
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version on businesswire.com: https://www.businesswire.com/news/home/20180521005449/en/
MetLife FoundationMeredith Hyland,
+1-212-578-9415orMetLife AsiaPooja Garg Khan, +852 61210086
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