At its Annual Winter Gala celebrated today in Washington, D.C., the
Inter-American Economic Council recognized The Western Union Company
(NYSE: WU) for its leading efforts to aid the economic growth of
developing nations and making a meaningful difference in the communities
it serves.
Company President and CEO Christina Gold was honored by the council with
the prestigious Excellence in Leadership Award for spearheading the
company’s initiatives in support of migrant
communities worldwide.
"Western Union’s
commitment to stimulating economic development and ensuring the
remittance industry makes a positive contribution for the betterment of
society is unparalleled,” said Barry
Featherman, president of the Inter-American Economic Council. "With
Christina Gold’s leadership, Western Union has
become a true partner for communities everywhere, and we’re
very proud to honor Western Union with this well-deserved award.”
According to a joint report by the International Fund for Agricultural
Development and the Inter-American Development Bank, last year migrant
workers sent $68 billion in remittances to Latin America and the
Caribbean. These monies have multiplier effects in reducing the costs of
education and are used by families and individuals to purchase basic
goods and services – opening up a critical
lifeline for the region's economies and helping communities escape
poverty.
As a worldwide leader in money transfer services, Western Union’s
capacity to assist migrants in sending money back home has provided a
critical avenue for economic growth and development throughout the
hemisphere.
Committed to its stance that migration should be a choice - not a
necessity, the company has consistently dedicated resources to foster
the growth of local communities through innovative enterprises such as
the recently announced Our World, Our Family initiative - a $50 million,
five-year commitment to empower migrant families through education and
global economic opportunity programs - and the 4+1 Program in Mexico,
among others.
Additionally, Western Union also is the first corporate donor to the
United Nations Central Emergency Relief Fund and through its Foundation
has provided disaster relief, through matching contributions from its
employees, Agents and in some cases the company has waived transfer fees
for humanitarian relief in areas of need. This commitment was
demonstrated on last year’s storms in
Nicaragua and the Dominican Republic, as well as the earthquake in Peru.
"Remittances are one of the most effective
ways to help fight poverty,” said Gold. "Those
who work overseas to support their families back home are transforming
our world and it is important that the public and private sectors work
together to maximize the positive impact of such transformation. The
IAEC and Western Union share that commitment, and we are very proud to
help them move forward the dialogue on economic development in the
Americas.”
Previous recipients of the Excellence in Leadership Award include
Harriet Mayor Fulbright (President of J. William and Harriet Fulbright
Center), R. Allen Stanford (Chairman & CEO of Stanford Financial Group),
Fadi Nahas (Honorary Consul General of Ecuador in Turkey and CEO of NA
Plus), and Gustavo Cisneros (Chairman & CEO, Cisneros Group), Ambassador
Peter Romero, former Assistant Secretary of State for Western Hemisphere
Affairs, among others.
The Council is committed to promoting economic development and poverty
alleviation in the Caribbean and Latin America.
About the Inter-American Economic Council
The Inter-American Economic Council ("Council") was founded in 1999 as a
non-profit organization based in Washington, D.C. with a focus on the
Caribbean Basin and Latin America. For additional information, please
visit www.inter-american.org.
About Western Union
The Western Union Company (NYSE: WU) is a leader in global money
transfer services. Together with its affiliates, Orlandi Valuta, Vigo
and Pago Facil, Western Union provides consumers with fast, reliable and
convenient ways to send and receive money around the world, as well as
send payments and purchase money orders. It operates through a network
of more than 335,000 Agent locations in over 200 countries and
territories. Famous for its pioneering telegraph services, the original
Western Union dates back to 1851. For more information, visit www.westernunion.com.
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