Opportunity International last week announced that The UPS Foundation, the charitable arm of UPS (NYSE:UPS), has awarded the organization a grant in the amount of US$100,000. The grant fosters economic literacy, as well as improves access to affordable microfinance services in India.
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.