MasterCard has launched a new centre for inclusive growth to advance sustainable and equitable economic growth and financial inclusion around the globe.
The new MasterCard Center for Inclusive Growth will conduct and support academic research and provide strategic philanthropic investments.
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In order to create and administer relevant knowledge assets and convene a global knowledge network, the centre will work with government agencies, academic institutions, non-profits, foundations and private corporations.
As a first step, the centre has created an Academic Advisory Council comprised of six thought leaders and thinkers on economic growth and financial inclusion from around the world.
The initiative is funded in Myanmar, Nigeria and the US, the company said in a statement.
MasterCard said that the centre will also focus its strategic philanthropic investments on programmes and initiatives that advance financial inclusion through entrepreneurship and economic development.
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By GlobalDataWalt Macnee, vice chairman of MasterCard, said: "MasterCard is launching the centre to provide a focus on delivering the research and philanthropic investments necessary to advance inclusive growth.
"With more people from more countries participating in the global economy than even before, MasterCard believes that inclusive growth is key for economic and social progress."
