The five-year initiative is one of the largest of its kind from a private charity, the Canadian foundation said in a release. The Mastercard Foundation will work with the United Nation’s refugee agency to deliver the program, which it estimates will help more than half a million people complete their education and 200,000 youth find good jobs by 2030. (The Logic)

Talking point: With about US$50 billion in assets, the Mastercard Foundation is the largest charity in Canada. Its massive war chest, accumulated through the appreciation of Mastercard shares it held following its creation through the credit card giant’s 2006 initial public offering, has attracted criticism over a 15-year deal it struck with the Canada Revenue Agency to give less than the legal minimum in some periods as long as it met it on average. Last year, the foundation spun out a Toronto-based asset manager as it shifted to a diversified portfolio. The asset manager has attracted Bay Street heavy hitters, including several hires from the Ontario Teachers’ Pension Plan.