PHILADELPHIA--(BUSINESS WIRE)--The ACE Group of Companies today announced that the ACE INA Foundation is making a three-year, $720,000 grant to Freedom from Hunger, a U.S. non-profit organization that brings innovative and sustainable self-help solutions to the fight against chronic hunger and poverty. The funds will be used for its Credit with Education program in Mexico (known as Alcance) to bring microfinance and education to nearly 3 million women living in rural Mexico and will enable Freedom from Hunger’s staff to train 95 local organizations to deliver its Credit with Education program.
“With our significant presence in Latin America and Mexico, ACE is committed to supporting the communities and regions where our employees live and work,” said Evan G. Greenberg, Chairman and Chief Executive Officer of ACE Limited. “We are pleased to serve as a partner with Freedom from Hunger in providing local Mexican community organizations with proven, self-enterprise programs that combine microfinance with health and business education for lasting results. The Credit with Education program has the potential to establish a long-term resource for Mexico’s underserved rural poor.”
The Credit with Education program effectively serves families living in rural poverty and benefits more than 750,000 women in 15 of the world’s poorest countries. Credit with Education brings together groups of women on a regular basis to borrow money through joint guarantee instead of collateral and gives them a safe place to save money. At regular gatherings, women participate in learning sessions to build upon their knowledge of basic business, health protection and family nutrition.
With the support of the ACE INA Foundation, Freedom from Hunger will be able to transfer its knowledge, systems and tools for implementing the Credit with Education program to dozens of Mexican organizations. Freedom from Hunger is providing a long-term solution for addressing chronic poverty and hunger in numerous regions and countries around the world, and will appropriately adapt for Mexico the Credit with Education program to ensure that on both sides of the program—financial and educational—the services provided respond to the realities, limitations, and opportunities of life in rural Mexico.
“The ACE INA Foundation is well-acquainted with the poverty that is widespread in Mexico’s rural reaches. Through this partnership, Freedom from Hunger and ACE will help equip families with resources they need to build a future of health, hope and dignity,” said Dr. Christopher Dunford, President, Freedom from Hunger. “We are grateful that ACE saw the wisdom of investing in a solution that grows the capacity of local Mexican microfinance and community organizations so that they can serve their fellow citizens for the long-term.”
Founded in 1946, Freedom from Hunger brings innovative and sustainable self-help solutions to the fight against chronic hunger and poverty. Together with local partners, Freedom from Hunger equips families with resources they need to build futures of health, hope and dignity. The Davis, Calif.-based organization is helping more than 700,000 families in 16 countries, providing resources to approximately 2.2 million people around the world in achieving lasting food security. For more information, please visit www.freedomfromhunger.org.
The ACE Group of Companies is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE:ACE), a component of the Standard & Poor’s 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Additional information can be found at www.acelimted.com.