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MetLife Foundation, the insurer’s community service arm, has partnered with international non-governmental organisation Kiva to support entrepreneurs all over the world through an employee engagement campaign.
As part of the programme, a fully funded loan of US$25 will be distributed to all of MetLife’s 23,000 employees in Asia. According to a press statement by MetLife, the loans will help entrepreneurs start, sustain, and grow their businesses. The campaign has already been successfully implemented in MetLife’s Europe and Latin American markets before coming to Asia.
“The collaboration between MetLife Foundation and Kiva to launch the ‘Take Action’ campaign will offer a unique opportunity to MetLife employees in Asia to get involved and help people who lack access to traditional financing,” said Steve Goulart, executive vice president and chief investment officer of MetLife, as well as interim president for Asia.
To help improve financial inclusion globally, MetLife Foundation has committed US$200 million in grant funding over the next five years to impact the lives of over two million people.
Since its launch in 2005, Kiva has facilitated more than US$1.1 billion in microloans by connecting 1.7 million lenders to 2.8 million entrepreneurs across the world. According to Kiva, eight in 10 of its loan recipients are women. When borrowers repay their loans, the money can be re-lent to other entrepreneurs, multiplying the impact of every dollar and improving access to financial services.
“We are proud to be a part of MetLife’s efforts toward that vision,” said Premal Shah, president and co-founder of Kiva. “Through this partnership with MetLife Foundation, they are backing the dreams of thousands of entrepreneurs around the world, expanding financial access and empowering MetLife employees to take part directly in that mission.”
