MoneyGram Foundation Rebuilds 10 Primary Schools Following Nepal 2015 Earthquakes

June 10, 2016 | Press Release

MoneyGram Foundation awards grant to the Chaudhary Foundation to help rebuild schools in areas affected by Nepal’s 7.8 magnitude earthquake

Kathmandu, NEPAL (June 10, 2016) - MoneyGram (NASDAQ: MGI), a global provider of innovative money transfer services, celebrated the completion of the ten primary schools built in the areas of Nepal devastated by the 7.8 magnitude earthquake and 100 aftershocks that struck in 2015.  The schools were made possible by a coordinated effort between MoneyGram and the Chaudhary Foundation, the philanthropic entity of the multi-national conglomerate Chaudhary Group.  The almost $80,000 grant awarded by the MoneyGram Foundation provided essential funding to build 10 of the 100 community primary schools the Chaudhary Foundation committed to restore in 12 of the highest affected districts in Nepal, including Kathmandu.  

"The MoneyGram Foundation works to ensure all children have access to education, and without the help of MoneyGram and the Chaudhary Foundation, the Nepalese children in these earthquake-torn areas would not have a sufficient school building to go to everyday," said Kaushik Roy, MoneyGram's senior regional director for Nepal and India. "We hope the schools built in 2015, and the schools we will build with the Chaudhary Foundation in 2016, will transform the lives of these students and enable them to make a significant contribution to rebuild Nepal beyond the 2015 earthquakes that ravaged their school system and continue to threaten the future of their country's welfare."

The Nepalese education sector was amongst the many massive casualties experienced in the small country in the wake of the earthquakes. More than 4 million students were affected after almost 20,000 school buildings were severely damaged or completely destroyed. To help the country recover, the MoneyGram Foundation intends to continue building more schools with the Chaudhary Foundation, an organization that aims to help remove barriers and assist in promoting quality education to foster the development of empowered youth in Nepal. The ongoing renovation effort is informed by Nepal's Ministry of Education and headed by construction engineers working with the Chaudhary Foundation. 

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