MetLife, Inc. (NYSE:MET) announced today that
has committed $20 million over the next five years to
, the nonprofit educational organization behind
, to advance financial capability among low and moderate-income families with young children throughout the world. The funding, which is part of MetLife Foundation’s $200 million, five-year commitment to financial inclusion, will create educational content and multimedia programs that will reach close to 75 million people worldwide.
Dennis White, CEO & president of MetLife Foundation (Photo: Business Wire)
“Both MetLife and Sesame Workshop have long histories of supporting the communities in which we work. Through our new partnership, we will improve the well-being of millions of families throughout the world,” said Frans Hijkoop, chief human resources officer, MetLife, Inc. and MetLife Foundation board member. “Together, we will make significant progress in ensuring families have access to the knowledge they need to put them on the path to financial security.”
“Since 2009, Sesame Workshop and MetLife Foundation have effectively partnered to bring critical messages and content to children and caregivers, using the power of multiple media platforms and the
Muppets,” said H. Melvin Ming, president and CEO, Sesame Workshop. “With this new commitment, we are expanding our partnership to address the essential issue of financial inclusion by including practical everyday lessons of basic numeracy, self-regulation and other key social skills to provide valuable educational experiences and resources. Targeting caregivers, we will mount an impactful global initiative to build financial empowerment around the world, improving their prospects for a brighter, more secure future.”
According to the World Bank, more than 2.5 billion people live on less than $2 a day, and most lack access to basic financial services that can help build a better future.
Through their new partnership, MetLife Foundation and Sesame Workshop will create research-based programs and educational content intended to increase knowledge about financial strategies among low-income families worldwide and to help them realize their financial goals.
The organizations will work together to build a coalition of local partnerships around the world to help deliver these programs to families. In addition, research will be at the heart of their approach to this initiative. Research will be used to drive the creation of initial messages and then to gauge reach, understanding, utilization, and educational and social impact.