PURCHASE, N.Y.—Mastercard’s Center for Inclusive Growth and CARE, an international humanitarian organization, said they have launched “Mastercard Strive Women,” a new program designed to strengthen the financial health and resilience of small businesses in the APEC economies of Peru and Vietnam, as well as in Pakistan, with a focus on small businesses led by women.
“Strive Women recognizes that women-led small businesses are critical contributors to economies, communities, and households worldwide. The program will focus on strengthening the financial health of small businesses by working with local partners in each market to deliver tailored financial products and support services, while addressing unique gender barriers that women-led businesses face,” Mastercard said.
Aiming to Reach Six Million Women
The company said the program aims to reach six million entrepreneurs through campaigns, while directly supporting over 300,000 entrepreneurs — the majority being women — to grow their businesses and increase their economic potential.
According to Mastercard, Strive Women will be carried out by CARE through a $9-million grant from the Mastercard Impact Fund. Mastercard said this new phase of partnership between CARE and the Center follows the success of the Ignite program, which unlocked $154.9 million in loans from an initial grant of $5.26 million. Following the program, 79% of female participants increased their sales, and 89% reported increased confidence in running the business, Mastercard said.
‘Extend the Scale’
Mastercard added that Strive Women will “extend the scale and impact of previous programs in each market, going deeper by building a broader ecosystem of stakeholders committed to long-term support for women-led small businesses. The program will also address the unique gender barriers women-led businesses face by testing innovations related to the climate crisis and childcare, which both disproportionately impact women.”
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