MetLife Foundation Sponsors ‘The Financial Inclusion Challenge’
March 18 2015 - 10:00AM
Business Wire
The Challenge, Developed in Conjunction with
the Wall Street Journal, Launches in Asia
Today, MetLife Foundation announced its exclusive sponsorship
and launch of The Financial Inclusion Challenge. The Challenge,
developed in partnership with MetLife Foundation and managed by The
Wall Street Journal, is a two-year global project launching in Asia
with the aim of encouraging non-profit and for-profit enterprises
to submit proposals that provide innovative, sustainable solutions
for individuals and families struggling to be part of the financial
mainstream.
The Challenge is part of a major editorial initiative by The
Wall Street Journal called “Financing the Future,” which will
provide news and insights about the world's more than 2 billion
people who are largely excluded from banking, lending, insurance,
credit, investing and other basic financial services.
“The issue of access and inclusion is very real. MetLife was
founded on the simple but powerful insight that everyone needs
access to the right financial tools to pursue more from life. That
core belief has shaped MetLife’s business since our founding in
1868. And, that same belief inspired MetLife Foundation’s new focus
on financial inclusion,” said Chris Townsend, president of MetLife
Asia, and a MetLife Foundation Board Member. “This project will
allow us to engage key stakeholders on a very important topic in a
dynamic and growing region.”
The Financial Inclusion Challenge will allow the Journal to
solicit and highlight cutting-edge ideas that address financial
exclusion issues holding so many people back in the region. The
Challenge will be prominently featured in The Wall Street Journal,
the world’s leading source of business, financial and economic
news. All decisions about news coverage and publication will be
made solely by The Wall Street Journal’s news department.
A panel of independent, expert judges will select entries to the
Challenge and recognize winning programs, products and services in
three areas: education; technology; products and services. There
will be one overall winner from these categories. Applications will
be accepted from around the world with a focus on implementation in
Asia.
“The Wall Street Journal specializes in reporting on economics
and finance in their broadest forms, and delving into what
financial stability can do in propelling people out of poverty is a
high priority for our newsroom and a crucial factor in the
development of nations across Asia,” said Paul Beckett, Asia
Editor. “We look forward to bringing our reporting expertise to
illustrating those issues over the next six months.”
In addition to The Wall Street Journal’s news reporting on this
topic, MetLife Foundation, in collaboration with WSJ Custom Studios
(a division of the Journal’s advertising department) will be
hosting a content hub rich with information and resources on the
topic of financial inclusion.
“We believe this project with the Wall Street Journal will point
the spotlight on what’s working, what needs attention, and the
solutions to help more people achieve their full financial
potential,” said Dennis White, president and chief executive
officer of MetLife Foundation.
In 2013, MetLife Foundation committed $200 million over five
years toward advancing financial inclusion around the world. To
date, it has committed $70 million toward that goal, with close to
$24 million invested in programs advancing financial inclusion in
Asia. The Foundation’s strategy, which includes sourcing diverse,
high-impact portfolio of partners and developing signature
programs, aims to have significant impact in communities around the
world. To learn more visit www.metlife.org.
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 2014, MetLife
Foundation has provided more than $650 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 to help build a secure future for
individuals and communities around the world. For more information,
please visit
https://www.metlife.com/metlife-foundation/index.html
MetLife FoundationSimon Smith,
852-2277-4161ssmith34@metlife.comorNandika Madgavkar,
908-340-5707nmadgavkar@metlife.com
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