HSBC to provide $15 million for global education programme

Global financial services company, HSBC has said that it will provide an additional $15 million over five years for Future First, the Group’s flagship global education programme that aims to tackle child poverty through educational projects.

The funds will be used to extend the programme to new countries and expand the scope from street children, children in care and orphans to cover all children at risk, the company said.

The UK-headquartered company said that that $10 million of the total funds will be allocated to projects developed in partnership with NGOs around the world with $5 million allocated to SOS Children’s Villages, the world’s largest NGO for orphans, for projects worldwide including those in Africa.

Initiated by HSBC in 2006, the initiative has funded about 314 projects across 49 countries.

In India, the initiative has undertaken 22 projects in partnership with 11 NGOs including Mumbai-based NGO Support and Childline India Foundation. It also provided funding for seven SOS Children’s Villages projects across India.

Douglas Flint, HSBC Group Chairman, said, ”At HSBC, we believe that education is one of the most powerful tools to reduce poverty and inequality and with Future First, we can help deliver projects that provide young people people with a more sustainable and prosperous future.”

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