About The MasterCard Foundation
The MasterCard Foundation is an independent, global organization based in Toronto, Canada, with more than $6 billion in assets. Through collaboration with partner organizations in 49 countries, mostly in Africa, it is creating opportunities for all people to learn and prosper. The Foundation’s programs advance microfinance as well as youth learning. Established in 2006 through the generosity of MasterCard Worldwide when it became a public company, the Foundation is separate and independent from the company. Its policies, operations, and funding decisions are determined by its own Foundation Board of Directors and President and CEO.
BRAC’s “microfinance multiplied” model enables women to use their loans to increase their incomes and build assets while stimulating economic and social development in their community. At the center of this model are groups of women that meet weekly with a BRAC community organizer who makes loans and collects repayments. These groups are the primary distribution channel for technical assistance to their communities. For example, BRAC trains some women to become model farmers, who in turn teach good farming practices to other members of their village. Other group members are trained as health promoters who share their knowledge and sell their services in their community.