Mastercard and the World Food Programme Announce 100 Million Meals Commitment
July 06 2017 - 11:02AM
Business Wire
New commitment focuses on ending the spiral of
poverty through eliminating hunger, driving inclusion and the
enablement and empowerment of those in need
At the Global Citizen Festival Hamburg, Mastercard and the
World Food Programme (WFP) will announce a new commitment in their
continued vision to reverse the cycle of hunger and poverty.
Connecting Mastercard’s expertise in technology and digital
innovation with WFP’s work providing vital food assistance and
resilience-building programmes to vulnerable communities. 100
Million Meals is a truly global initiative designed to raise
significant funds and “meals” for those in need around the
world.
With the mission of creating a world beyond cash and a world
beyond hunger, this bold new initiative is Mastercard’s first
global commitment with WFP focused on helping reverse the spiral of
poverty – supporting four of the United Nations Sustainability
Development Goals; No Poverty, Zero Hunger, Quality Education and
Gender Equality. As part of the commitment Mastercard and WFP have
set an aggressive target of fulfilling as many meals as possible
within the next twelve months.
“Mastercard and WFP have already delivered innovative programmes
to help build a world beyond hunger and reverse the cycle of
poverty. Our 100 Million Meals initiative strives to meet the needs
of some of the most deprived and marginalised citizens across the
globe,” said Ann Cairns, president, International, Mastercard. “By
combining Mastercard’s expertise in technology and payment systems
with WFP’s work delivering food assistance around the world, we can
leverage innovation to help ensure everyone, everywhere, is
included. So far, our journey has already helped provide over 17
million meals, but today we’re stepping up several gears with this
ambitious new goal designed to drive greater opportunities and a
more inclusive world.”
WFP’s executive director, David Beasley, said that over the
years of the partnership, Mastercard has helped the organisation
change the way it does business, reaching more people with a more
efficient and agile approach.
“Mastercard’s work toward ending hunger is an
inspiring example of how the private sector plays a vital
role in social good,” he said. “Their new commitment
to 100 million school meals is the next phase of an already very
successful journey with WFP to reach Zero Hunger. This contribution
to saving lives, changing lives and feeding dreams for kids is
truly priceless.”
The initiative, which will provide support equivalent to 100
million meals, will be met by boosting the existing collaboration
with WFP, focusing on two clear areas; leveraging expertise and
giving campaigns.
Leveraging Expertise:
- Digital Food: In communities
where food markets are stable but people are vulnerable and require
food assistance, WFP is increasingly using cash and vouchers
instead of traditional food distribution, which can save time and
money and also support local economies
In 2012, Mastercard helped WFP set up a
pioneering system to provide pre-paid cards for Syrian refugees in
Lebanon and Jordan. Since that time, 2.2 million Syrian refugees
have used these cards to purchase food in local stores, empowering
them to choose food for their families.
- Cost Benefit of School Meals:
During 2016, 18 Mastercard employees undertook temporary
assignments in WFP country offices. Their analytical expertise
optimized research that has shown that every dollar invested in
school meals brings an average economic return of US$6 in the form
of improved health and education for schoolchildren
Giving Campaigns:
At the heart of integrated giving is the
Priceless Causes donation platform, which facilitates contributions
to WFP through card-based micro-donations. This partnership
leverages Mastercard’s payment mechanisms to support a humanitarian
cause and provides an opportunity to engage Mastercard’s network of
partners, including consumers, to drive a community for change.
Making giving part of everyday life,
Mastercard and its partners have helped raise funds to provide over
17 million school meals to children around the world. Over 70
cause-related marketing campaigns in 17 countries across Europe
have given cardholders the opportunity to come together and make a
cumulative difference one transaction at a time. Through 2017 the
partnership plans to take best practices from Europe and expand
globally.
Highlights include:
- Asia: This year, Mastercard has
supported WFP’s flood relief efforts in Sri Lanka to provide food
to 75,000 of the most vulnerable people in temporary government
shelters. Mastercard has in the past contributed to WFP’s disaster
relief efforts in Nepal, following the devastating earthquake in
April 2015, and in the Philippines in 2013 and 2014 after Typhoon
Haiyan and Typhoon Hagupit struck the country.
- Central Eastern Europe (11 country
campaigns): The largest campaign under the partnership has been
running since 2015, with Mastercard donating for each card usage
throughout 11 countries. To date 7.5 million nutritious school
meals have been provided for school children in Rwanda
- UK: The first of its kind in the
UK, this campaign saw Mastercard link up with Virgin Money to help
raise funds equal to over 250,000 school meals in Mali
- Belgium: In 2016 Mastercard
donated 775,000 school meals through a Cross Border usage campaign
in collaboration with Buyway Personal Finance
- German supermarkets and
restaurants raised €336,000 in May and June 2013, by donating
one school meal for every transaction and Facebook “like”
About Mastercard
Mastercard (NYSE:MA), www.mastercard.com, is a technology
company in the global payments industry. We operate the world’s
fastest payments processing network, connecting consumers,
financial institutions, merchants, governments and businesses in
more than 210 countries and territories. Mastercard products and
solutions make everyday commerce activities – such as shopping,
traveling, running a business and managing finances – easier, more
secure and more efficient for everyone. Follow us on Twitter
@MastercardNews, join the discussion on the Beyond the Transaction
Blog and subscribe for the latest news on the Engagement
Bureau.
About WFP
WFP is the world's largest humanitarian agency fighting hunger
worldwide, delivering food assistance in emergencies and working
with communities to improve nutrition and build resilience. Each
year, WFP assists some 80 million people in around 80 countries.
Follow us on Twitter @wfp_media and @wfp_mena.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170706005733/en/
MastercardSeth Eisen, 914-249-3153seth_eisen@mastercard.com
MasterCard (NYSE:MA)
Historical Stock Chart
From Jun 2024 to Jul 2024
MasterCard (NYSE:MA)
Historical Stock Chart
From Jul 2023 to Jul 2024