The UPS Foundation Grant Fosters Economic Literacy and Provides Access to Affordable Microfinance Services in India
Oak Brook, Ill., Dec. 1, 2010 – Opportunity International today announced that The UPS Foundation, the charitable arm of UPS (NYSE:UPS), has awarded the organization a grant in the amount of $100,000. The grant fosters economic literacy, as well as improves access to affordable microfinance services in India.
“Opportunity International is grateful to The UPS Foundation for its dedication to helping impoverished families receive access to financial education and support,” said Dennis Ripley, senior vice president, International Business Development, Opportunity International. “Their support of our organization over the years has helped countless clients work their way out of poverty and toward a better life through entrepreneurship.”
In India, Opportunity International’s mission is to serve populations who do not have access to financial services. The grant from The UPS Foundation will help Opportunity further reach and positively impact the lives of Indian clients in both rural and urban communities.
The program funded by The UPS Foundation Grant includes microfinance services, such as trust group lending and financial literacy training programs on earning, spending, borrowing and budgeting. Additionally, clients benefit from insurance services provided by Opportunity International’s subsidiary, MicroEnsure, a leading insurance intermediary for people living in poverty. Earlier this year, MicroEnsure was named a runner-up for the prestigious Financial Times Sustainable Banking Award, due to its successful implementation of affordable health insurance services for low-income families in India.
“Opportunity International has a rich heritage of transforming the lives of the working poor in developing countries through its affordable financial products and services,” said Eduardo Martinez, director of philanthropy and corporate relations, The UPS Foundation. “For nearly 40 years, the organization has fostered entrepreneurship in the developing world through education, savings programs, insurance services and training. We are proud to continue our support of Opportunity International’s efforts to increase economic literacy in India.”
The UPS Foundation is responsible for facilitating community involvement to local, national and global communities. As UPS begins its second century of service, The UPS Foundation has realigned its global strategy to strengthen its impact and better leverage the intellectual and physical assets of the company. The five focus areas of economic and global literacy, environmental sustainability, nonprofit effectiveness, diversity and community safety are built upon its rich experience and are aligned with UPS’s vision for the future.
Ripley continues, “We are thankful for the foundation and look forward to continued collaboration to make a lasting impact on families and impoverished individuals in India.
About Opportunity International
Opportunity International provides access to savings, small business loans, insurance and training to over five million people working their way out of poverty in the developing world. Clients in over 20 countries use these financial services to start or expand a business, provide for their families, create jobs for their neighbors and build a safety net for the future. For more information, visit http://www.opportunity.org or join the conversation at http://facebook.com/opportunityintl and http://twitter.com/opportunityintl.
About The UPS Foundation
UPS (NYSE:UPS) is the world's largest package delivery company and a global leader in supply chain and freight services. Since its founding in 1907, UPS has built a legacy as a caring and responsible corporate citizen, supporting programs that provide long-term solutions to community needs. UPS promotes community involvement through its ongoing volunteerism and grant programs, environmental sustainability and corporate philanthropy. In 2009, UPS's charitable contributions totaled nearly $100 million and UPS employees and their families contributed more than 1.2 million hours of volunteer service. The company can be found on the web at UPS.com. To get UPS news direct, visit pressroom.ups.com/RSS.
iD8 Marketing/Opportunity International
VP of Communications
Opportunity International Receives Grant from The UPS Foundation
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