Chicago, Ill. – July 9, 2015 – Today, MetLife Foundation, which is dedicated to promoting the power, quality and access of financial services around the world, announces a three-year, $1.8 million partnership with Opportunity International to promote knowledge and access to financial services in rural China. Opportunity International is a global non-profit organization that provides loans, savings programs, business resources and training to help millions of families around the world break the cycle of poverty.
This new partnership between MetLife Foundation and Opportunity International will help:
- Expand access to financial services for 4,200 small businesses in rural areas of China.
- Create or sustain more than 20,000 new jobs.
- Enhance the financial knowledge and skills of more than 3,600 entrepreneurs through financial training and business development services.
- Deliver customized financial products and services through banks, mobile vans and rural service centers to reach clients in even the most remote areas of China.
- Study key financial inclusion challenges and offer insights which improve practices and knowledge within the global development community.
“We’re excited by this partnership with Opportunity International because of their broad slate of financial products and long record of successfully reaching people in some of the most impoverished areas of the world,” said A. Dennis White, president and CEO of the MetLife Foundation. “Their comprehensive approach to financial inclusion—involving both access to much needed financial services and improved knowledge and understanding of the power of these services—will provide rural entrepreneurs with the resources they need to thrive, create jobs and increase incomes and assets in their communities.”
Vicki Escarra, global CEO of Opportunity International said the partnership with MetLife Foundation will bring client-centered financial tools to China’s under-resourced small businesses. “As important, our partnership will also improve the lives of tens of thousands of people living in poverty in rural China and introduce new ideas and services into areas that will truly be transformative,” she added.
Creating jobs and improving livelihoods in rural China means increasing access to financial services and training to help community entrepreneurs launch and expand small businesses.
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 2013, MetLife Foundation has provided more than $600 million in grants and $70 million in program-related investments to organizations addressing issues that have a positive impact in their communities. Today, the Foundation is dedicated to advancing financial inclusion, committing $200 million over the next five years to help build a secure future for individuals and communities around the world. To learn more about MetLife Foundation, visit www.metlife.org.
ABOUT OPPORTUNITY INTERNATIONAL
Opportunity International is a global non-profit organization that helps people in developing nations work their way out of poverty, transform their lives and strengthen their families and communities. Founded in 1971, the organization has provided more than $9 billion in loans to help clients launch and expand businesses, provide for their children and create jobs in their communities. In addition to loans, Opportunity International offers savings programs, insurance and other financial services and training in 28 countries across Africa, Asia, Latin America and Europe. The U.S. headquarters of Opportunity International are in Chicago, with other key offices in Australia, Canada, Germany, Hong Kong, Singapore, Switzerland and the United Kingdom. The organization serves 12 million clients through a network of more than 17,500 people worldwide. Discover more at opportunity.org.
Christina Koliopoulos | Opportunity International | 312.487.5064 | [email protected]
Nandika Madgavkar | MetLife Inc. | 212.578.5707 | [email protected]