Latest grant to the UNCF rounds out MetLife Foundation’s $5 million commitment to racial equity announced in 2020
MetLife Foundation is providing an additional $1 million to the UNCF to help finance scholarships at Historically Black Colleges and Universities (HBCUs).
MetLife Foundation has announced an additional $1 million to UNCF in support of students at HBCUs
MetLife President and CEO Michel Khalaf announced this commitment last night during the 2022 UNCF annual gala held in New York City. At the event, Khalaf also accepted UNCF’s Legacy Partner Award on behalf of MetLife. MetLife has partnered with the UNCF since 1946.
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The latest $1 million grant will fund the new MetLife@ Foundation Legacy Endowment Scholarship. This program is being established alongside the MetLife Foundation Scholarship Fund – a UNCF program established in 2020 to support African American students majoring in business, accounting or finance at HBCUs.
The latest grant also completes the commitment MetLife Foundation announced in June 2020 to provide $5 million over three years to advance racial equity in the United States.
“MetLife@ Foundation’s ongoing support of underserved and underrepresented communities is part of MetLife’s broader commitment to diversity, equity and inclusion,” said Khalaf. “The culmination of the $5 million pledge to advance racial equity serves as a launchpad for broader efforts we’re undertaking to reduce inequality, create economic stability, and build a more inclusive and confident future for all.”
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Yesterday, MetLife@ announced a comprehensive set of diversity, equity and inclusion (DEI) goals to be achieved by 2030. As part of the seven new goals, MetLife committed to originate $1 billion in investments that advance firms owned by women, minorities and disabled persons, and to spend an additional $1.6 billion with diverse suppliers. In addition, MetLife Foundation committed to providing $150 million to support underserved and underrepresented communities.
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