Mastercard receives Ukraine Peace Prize

January 19, 2023 | By Yasemin Bedir

The ‘Ukraine Peace Prize’ was presented to Mastercard at the ‘Ukraine Recovery Conference’ by Ukraine’s Deputy Prime Minister and Minister of Digital Transformation, Mykhailo Fedorov . He met with Rory MacFarquhar(pictured), Senior Vice President, International Institutions Engagement, and Maryna Krasnopolska, Director, Public Policy, Mastercard EEMEA (pictured).

The people of Ukraine have been affected in ways that most of us could never imagine. As the humanitarian emergency continues to unfold, Mastercard has offered support on various fronts.

Earlier this month, these efforts received high-level recognition when Mastercard was honored with the Ukraine Peace Prize. Volodymyr Zelenskyy, President of Ukraine, announced the award to recognize the companies, governments, and world politicians who have supported the country during the ongoing conflict.

The first priority for Mastercard has been the wellbeing and safety of its employees and their families. Since then, Mastercard in Ukraine has continued to support banks, merchants, and millions of consumers, including by:

  • Adjusting pricing models to support the country’s economy.
  • Expanding ‘purchase with cash withdrawal’ service to ensure Ukrainians have access to their funds while ATM capacity is limited.
  • Providing cloud edge connectivity solutions for banks.
  • Launching ‘Diia.Business’ consultancy center for Ukrainian SMEs in Warsaw (Poland) together with the Ministry of Digital Transformation.
  • Announcing a new Start Path initiative that has been specifically designed for Ukrainian fintechs and entrepreneurs.
  • Delivering on Mastercard’s commitment of ‘doing well by doing good’ in the community through donations and volunteering initiatives.

Globally, Mastercard donated $2 million to support the relief initiatives in Ukraine and surrounding countries welcoming refugees. It deployed an additional $3 million from the Mastercard Impact Fund to provide further assistance, aiding the financial security, and driving small business programs for the economic integration of migrants over the longer term.

More is yet to come. As noted by the President of Ukraine at the ‘Ukraine Recovery Conference’ in Lugano, Switzerland, the Recovery Plan will focus on security, technology, a green economy, institutional development, and an improvement in living standards. Mastercard sees great potential for the future development of a digital and cashless economy that would benefit all Ukrainians, and is already working closely with the Ukrainian government to advance the country’s digital recovery.

While many challenges remain, Mastercard joins with so many others in hoping for a more peaceful future for all.

Photo of Yasemin Bedir
Yasemin Bedir, President, Turkey & CIS Division