MoneyGram Foundation Reaches Over 60,000 Children in First Year
Foundation expands reach in its second funding distribution of 2014
DALLAS--(BUSINESS WIRE)-- MoneyGram (NASDAQ:MGI), a leading global money transfer and payment services company, today announced the distribution of four grants to high-impact education programs in nine countries through the MoneyGram Foundation. The foundation, launched in 2012, is increasing its reach in Pakistan, South America and the Caribbean as well as fulfilling MoneyGram's commitment to aid in the rebuilding of schools that were destroyed by Typhoon Yolanda in the Philippines.
The MoneyGram Foundation is proud to renew our funding to both Developments in Literacy and TECHO, also known as Un Techo para mi País, as both global organizations share the foundation's vision to improve education for underserved rural populations. The renewal of funding for Developments in Literacy is a continuation of support for two schools in Rawalpindi, Pakistan. These schools serve rural and impoverished regions and maintain more than 70% female enrollment in areas where nearly 75% of girls are illiterate.
In addition, the foundation is proud to work with TECHO to support the organization's Ecuador education program launch - the first TECHO education program in the country. The program will be implemented in five communities and impact 150 children in the city of Quito.
"The MoneyGram Foundation is creating a dynamic network of advocates for education worldwide. In just one year of operations, the foundation has established a presence in 19 countries, directly impacting more than 60,000 children around the world," said Julia Taylor, president of the MoneyGram Foundation and vice president of corporate strategy at MoneyGram. "We are proud to support ambitious organizations that are raising the standard of education worldwide through innovative educational resources and programs that empower the communities they serve."
MoneyGram also fulfilled its promise to provide support to areas devastated by Typhoon Yolanda in the Philippines. Building upon previous foundation work done in the disaster-stricken areas of Cebu and Davao through Books for Asia, the MoneyGram Foundation will fund the rebuilding of three classrooms in Bohol through Habitat for Humanity Philippines, a non- profit organization that serves Filipino families by building decent homes and sustainable communities. More than 1,900 classrooms in Bohol were destroyed or damaged by Typhoon Yolanda and a previous 7.2 magnitude earthquake. The renovated school building will serve a dual purpose of providing an educational facility for local children and acting as shelter for the whole community in future natural disasters. In Bohol, Habitat is also working to rebuild 8,083 houses across 17 earthquake-stricken municipalities allowing families to move-in to safer, permanent shelters.
Expanding the foundation's work to a new region, the final award for this grant cycle will support literacy in six Caribbean countries. With Hands Across the Sea, the MoneyGram Foundation will rejuvenate 12 primary school libraries across the islands and replace the libraries' out-of-date books with new, age-appropriate reading material for 2,500 students each year.