MetLife Foundation has committed close to US$5 million in Asia to advance financial inclusion in underserved communities
HONG KONG -- (BUSINESS WIRE) -- MetLife Foundation is proud to support the Asia Microfinance Forum (AMF) in Shanghai, China. This is the fourth regional forum since 2006 convened by Banking with the Poor Network and organized by the Foundation for Development Cooperation. The Forum, titled “Financial inclusion in Asia: Creating dynamic financial ecosystems for the poor”, aims to discuss financial framework, policies and regulations; financial capability; demand-driven products; peer-to-peer microfinance; behavioral economics; digital finance and many other related subjects.
The Forum, held from August 5 to 7, 2014, brings together hundreds of leading industry experts, heads of commercial banks and development financial institutions, regulatory body heads of several Asian countries as well as scholars and practitioners of diverse fields of microfinance and financial inclusion to deliberate best practices, exchange knowledge and build partnerships to achieve greater financial inclusion in the region. MetLife Foundation is the gold sponsor of the Forum.
“This convening provides a great opportunity for leaders in the field to gather together to advance financial inclusion in Asia,” said Dennis White, president and chief executive officer of MetLife Foundation. “MetLife Foundation is pleased to provide support that allows our conference partners to share industry knowledge and best practices with one another to promote inclusion and ultimately reduce poverty.”
“The Asia Microfinance Forum provides an opportunity to explore and share new business models, technology and delivery channels developed by commercial banks, microfinance institutions, NGOs and other financial service providers that are closing the financial exclusion gap,” said Chandula Abeywickrema, chairman of Banking with the Poor Network.
“In Asia, we are currently supporting a number of financial inclusion projects in different communities and have more in the pipeline. MetLife Foundation has approved grants of approximately $4.6 million in Asia to date in 2014 for different community programs. These grants represent the first part of a five-year, multi-million dollar, commitment that the Foundation has announced in support of financial inclusion. In the upcoming months, we will continue to roll out projects in India, Bangladesh, China, Japan, Korea, Nepal, Myanmar and Vietnam to promote financial inclusion,” said Chris Townsend, president of MetLife Asia Limited, and board member, MetLife Foundation.
“As we grow our business in Asia, we see it as our corporate social responsibility to bring greater security, greater opportunity and greater self-reliance to those most in need. The increased grants in financial inclusion underscore our unwavering commitment to empowering people to take charge of their future and helping the communities we serve to pursue more from life,” added Townsend.
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 MetLife
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the largest life insurance companies in the world. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
CONTACT:
MetLife, Inc.
Eunice Cheng, +852-2277-4163
