The MasterCard foundation has committed more than $85 million to various projects in Rwanda set to benefit projects in the fields of financial inclusion, education and economic opportunities for the youth.
The announcement came after a delegation of the board members of the organization met President Paul Kagame at village Urugwiro in Kigali today.
The chairman of the foundation Jim Leech noted that the organization is committed to working with accountable countries like Rwanda so as to ensure sustained impact on the population.
“Rwanda continues to show great developmental strides and great leadership, it’s this reason we are committing ourselves to help it achieve its long term vision and goals,” Leech said.
Dr. Papias Musafiri, Rwanda’s minister of education said the partnership with MasterCard foundation will help empower the girl child and create more opportunities for Rwandan youths ensuring access to better education systems.
“MasterCard foundation has committed itself to help give a chance to talented young Rwandans through provision of various scholarships and investment in the education system. This is in line with the government’s target for vision 2020,” said the minister.
The MasterCard foundation delegation was led by Reeta Roy the President and chief executive officer of the nonprofit organization.
Based in Toronto, Canada, the MasterCard Foundation works with different organisations to provide greater access to education, skills training, and financial services for people living in poverty, primarily in Sub-Saharan Africa.
The board of the group has recently held its high level board meeting in Kigali, making Rwanda the first place for such a meeting outside its North American base.
The Foundation has committed $50 million (about Rwf37 billion) to projects in Rwanda in the areas of education, ICT, agriculture and microfinance.
Its partners in the country are mostly non-governmental organisations (NGOs), including FAWE Girls School, where 1,200 girl students will be funded to complete their education at both secondary and university levels in Rwanda.