Promoting Inclusive Markets and Financial Systems
The MasterCard Foundation
The MasterCard Foundation advances microfinance and youth learning to promote financial inclusion and prosperity. Through collaboration with committed partners in 48 countries, The MasterCard Foundation is helping people living in poverty to access opportunities to learn and prosper. An independent, private foundation based in Toronto, Canada, it was established through the generosity of MasterCard Worldwide at the time of the company’s initial public offering in 2006.
Evaluation & Assessment: Youth Savings
Research suggests that by serving a girl at the vulnerable crossroads of adolescence, development programs can have the greatest impact not only on that girl, but can empower her to be a catalyst for change in her family and community. Once that window of adolescence closes, we have lost the opportunity to impact a generation. According to market demand research conducted by Women’s World Banking (WWB), girls as young as 10 regularly accumulate money, actively financial institutions are traditionally oriented towards adults as customers and do not see youth as a viable target market. Early evaluation of girls’ savings projects suggests that increased savings is associated with a number of positive outcomes. This study details WWB's findings regarding a 'Girl Effect' in Mongolia.