In one of the largest private sector donations of its kind, the Mastercard Foundation announced it will give $1.3 billion over the next three years to vaccinate 50 million people in Africa. Fewer than 2 percent of the people there have gotten a single dose of the COVID-19 vaccine, far lower than many wealthy countries. Ajay Banga, Mastercard’s executive chairman, joins Amna Nawaz to discuss
PBS NewsHour, Jun 10, 2021
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Mastercard Foundation $1.3 billion commitment to save lives and livelihoods in Africa
“We need all shoulders against the wheel to stop COVID-19 in its tracks, and this $1.3 billion commitment by the Mastercard Foundation is the kind of effort that can change the trajectory of the pandemic. It will enable millions of people across Africa to receive COVID-19 vaccines. By partnering with Africa CDC and others to solve for every hurdle – from the purchasing, delivery, and dissemination of vaccines, to strengthening institutions and creating jobs – the impact won’t just benefit the continent, it’ll benefit all of us. We have always commended the Foundation in its relentless work to advance economic opportunities for young people and communities in Africa and we commend them now for their extraordinary leadership in a time of crisis. This is how we beat the virus, together.” Ajay Banga, Executive Chairman, Mastercard.
The Mastercard Foundation was created 15 years ago through a gift of stock when Mastercard became a public company. Since its inception, the Mastercard Foundation was established as an independent, Canadian foundation with its own Board of Directors and management, who are focused on advancing their vision, Opportunity for All to Learn and Proper. Today, we are immensely proud that the Mastercard Foundation is one of the largest global foundations with a track record of impactful programs in education, financial inclusion and youth livelihoods in Africa.