Mastercard has announced an initial $100 million contribution to the Center for Inclusive Growth Fund, part of a $500 million commitment by the global payments and technology company in support of initiatives focused on long-term economic growth that benefits everyone.
Established in late 2017, the fund is designed to deliver on philanthropic goals shared with the Mastercard Center for Inclusive Growth, including the reduction of income and information inequality, accelerating financial inclusion and workforce skills development, and making people and businesses more resilient in the face of a rapidly changing global economy. Following a series of listening sessions in which Mastercard executives met with employers, community leaders, and workers in seven U.S. cities, the center recently launched a U.S. inclusive growth initiative.
"There are too many people today who are disconnected from the resources and connections they need to survive and thrive," said Mastercard president and CEO Ajay Banga. "In establishing this fund, we hope to increase the agility and ability of people around the world to navigate change and be successful."