The
United Nations World Food Programme (WFP) has honoured Mastercard
with the prestigious Hunger Hero award at its yearly dinner at the
World Economic Forum in Davos, Switzerland. Mastercard’s CEO, Ajay
Banga, accepted the award on behalf of the company, which was being
recognised for its contributions towards achieving a Zero Hunger
world.
One
of the most significant initiatives of the partnership is the use of
technology in response to the refugee crisis in Syria. Under a global
partnership, Mastercard provided technical expertise that has enabled
WFP to bring electronic payments to 2.2 million Syrian refugees in
Lebanon and Jordan, who have been able to access food locally through
Mastercard’s branded prepaid cards.
The
prepaid cards can be redeemed against a list of items at
participating local stores, allowing refugees to buy the food that
fits their needs, including fresh produce, which is often scarce. The
money is automatically wired to the cards, so refugees don’t have
to wait in line to receive their entitlements.
In
addition to leveraging its technology, Mastercard enabled employees
around the world to undertake temporary assignments at WFP offices in
order to lend a hand on approach to the partnership. With the
creation of a donation platform that integrates charitable giving
into everyday life, Mastercard and its bank and retail partners have
helped raise funds to provide over 17 million school meals to
vulnerable children around the world.
The
belief that business can be a force for good in the world is core to
the operations of Mastercard. The company is committed to bringing at
least 500 million individuals into the financial mainstream by 2020
and has already reached more than 250 million underserved people.
Mastercard was also recently ranked seventh on the Fortune “Change
the World” list, based on its work to help transform humanitarian
aid for refugees and other vulnerable populations.
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