ENGLEWOOD, Colo.--(BUSINESS WIRE)--Today, the Western Union Company and the Western Union Foundation renewed their commitment to global education at the Clinton Global Initiative Annual Meeting (CGI).
Western Union CEO Hikmet Ersek laid out an agenda for the next phase of the Education for Better initiative, which leverages Western Union® services, advocacy, cause marketing, philanthropic investments and employee engagement to support education programs worldwide.
In remarks given at the CGI Annual Meeting, Ersek outlined the following global initiative goals over the next five years:
• to train 50,000 women and youth with job skills that prepare them for 21st century careers
• to serve 500+ universities with education-related products
• to support research to broaden global understanding of education challenges and solutions
Furthering Western Union network as a powerful driver of inclusion, the next phase of Education for Better will focus on helping provide educational opportunities for migrants and refugees, girls and women.
“Western Union helps people move the money that funds their dreams, and we believe that moving money for education can improve lives around the world,” said Western Union CEO Hikmet Ersek. “We are proud of the progress made to-date through the Education for Better initiative, but much work remains to be done. This is why we renew our pledge to continue using our resources to help create economic opportunities through education worldwide.”
The second phase of the initiative, announced today, builds upon the significant success of the initiative’s first three years of operation.
Since 2012, Western Union and the Western Union Foundation have contributed significant resources to provide opportunities for students, teachers and administrators, higher education institutions, and NGOs. To date and as part of the initiative, the Western Union Foundation has pledged more than US$13.6 million across 331 Education for Better grants and formal donations to 199 organizations in 64 countries.
Western Union Foundation President Patrick Gaston, added, “The need for education is at the root of so many societal challenges we face today—including poverty, homelessness, human trafficking, and the need for better healthcare. We are grateful to our partners, our employee volunteers, and all those who made Education for Better a success in its first three years, and we look forward to even greater progress in the years ahead.”
According to the United Nations, every additional year of schooling can increase an individual’s annual income by up to 10 percent. If all students in low income countries left school with basic reading skills, it is estimated that 171 million people could be lifted out of poverty1.
The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. As of June 30, 2015, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of over 500,000 agent locations in 200 countries and territories and over 100,000 ATMs and kiosks, and included the capability to send money to millions of bank accounts. In 2014, The Western Union Company completed 255 million consumer-to-consumer transactions worldwide, moving $85 billion of principal between consumers, and 484 million business payments. For more information, visit www.westernunion.com.
About The Western Union Foundation
The Western Union Foundation is dedicated to creating a better world, where the ability to realize dreams through economic opportunity is not just a privilege for the few but a right for all. Through its signature program, Education for Better, and with the support of The Western Union Company, its employees, Agents, and business partners, The Western Union Foundation works to realize this vision by supporting education and disaster relief efforts as pathways toward a better future. Our combined social venture efforts make life better for individuals, families and communities around the world. Since its inception, The Western Union Foundation has paid more than $103 million in grants and other giving. These funds have been pledged to more than 2,760 nongovernmental organizations in more than 136 countries and territories. The Western Union Foundation, is a separate §501(c)(3) recognized United States charity. To learn more, visit www.westernunionfoundation.org, or Follow us on Twitter @TheWUFoundation.
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1 Education for All Resources, United Nations
