UPS Awards Centennial Grant to ACCION for Work in Microfinance

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ACCION(R) International, a pioneer and leader in microfinance, recently announced that it has received a $400,000 Centennial Grant from UPS to support its work in delivering financial services and training to the world’s entrepreneurial poor.

UPS, the world’s largest package delivery company and a global leader in supply chain services, is celebrating its 100th anniversary this year by creating the Centennial Grants Fund, awarding a total of $1m to global microfinance organizations. ACCION will use the funds to expand the reach and sustainability of microfinance in various countries around the world.

The grant will support ACCION’s microfinance activities in four key areas:

  • Increasing the number of microentrepreneurs to whom ACCION USA makes loans through its regional U.S. offices;
  • Working to extend innovative and efficient financial services to more of the world’s poor, especially in such high-population countries as Mexico and Brazil;
  • Reaching more microentrepreneurs in regions new to ACCION, such as China and India; and
  • Developing new products and services, such as savings and remittance instruments, specifically tailored to the needs of the poor.
  • "ACCION is deeply appreciative of UPS’s confidence, and honored to help them celebrate their centennial in such a way," said María Otero, ACCION president and CEO. "UPS and ACCION share a commitment to providing the world’s poor with access to microfinance, so that they can work their way out of poverty."

    Via: (ACCION(R) International)

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