Visa, a “global payments technology” company headquartered in the US state of California, recently announced that the first grant from its newly initiated Visa Foundation will benefit Women’s World Banking, a nonprofit organization based in the US city of New York that works through a network of 49 financial institutions across 31 countries to help low-income people access credit, savings and insurance products. Women’s World Banking is to use the grant, which totals USD 20 million, to help underserved women improve their leadership and financial capabilities as well as create financial safety nets for their businesses.
The goal of the Visa Foundation is to assist small and medium sized enterprises (SMEs) in financially underserved areas. The size of the foundation’s budget has not yet been released. As of September 2017, Visa has USD 68 billion in total assets.
By Ryan Gauthier, Research Associate
Sources and Additional Resources
Women’s World Banking press release:
https://www.womensworldbanking.org/uncategorized/visa-foundation-commits-20-million-inaugural-grantee-womens-world-banking/
Women’s World Banking:
https://www.womensworldbanking.org/
Visa Foundation launch:
https://usa.visa.com/visa-everywhere/global-impact/visa-foundation.html
Visa:
https://www.visa.com/
Y Charts:
https://ycharts.com/companies/V/assets
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