MasterCard Foundation approves over $630mln grant for 2nd phase program in Ethiopia

Addis Ababa, April 1, 2023 (FBC) – The MasterCard Foundation has approved more than 630 million USD grant for the second phase of the three-year program in Ethiopia, according to the Ministry of Labour and Skills of Ethiopia (MoLS).

The approval of the grant for the second phase program was announced after the MasterCard Foundation Governance Board’s evaluation of programs in Ethiopia for the past four days.

The 630 million USD grant will be used for various projects, including job creation, credit services to enable access to financing, a program to instill an entrepreneurial attitude in technical and vocational institutions, and numerous other projects, according to Muferihat Kamil, the Minister of MoLS.

The Minister met with the Foundation’s Governance Board and discussed the activities and significant role played by the foundation over the past several years, especially in Ethiopia.

Believing in the creativity and entrepreneurship qualities of Ethiopian youth, the foundation is providing great help to unlock the dreams of many, the Minister indicated.

She appreciated the foundation’s efforts and support in making education, financial services and skills development accessible to many, and for her country’s youth to have the opportunity to meet their dreams.

She also extended her gratitude to the Founder and President of the Foundation Ms. Reeta Roy and all the Governance board members.

The MasterCard Foundation is one of the world’s largest private foundations with a mission to create an inclusive and just world, promote education, create job opportunities for youth and promote financial inclusion.