(Yicai Global) Nov. 18 -- A new initiative by leading global financial services firm J.P. Morgan and charitable organization China Social Entrepreneur Foundation will provide e-commerce training and financial coaching to low-income women in poverty-stricken areas of China.

Over the next 16 months the Power Up Women Program expects to reach 1,600 underprivileged women across Gansu, Anhui, Sichuan, Hebei and Guizhou provinces, New York-based J.P. Morgan said in a press release today.

Adult women's illiteracy rates in China stand at around 7.89 percent compared with 2.74 percent for men, according to official data. Limited education opportunities have resulted in an acute skills shortage among women in poor or less developed areas.

"By expanding demand-driven skills training and financial coaching programs," said J.P. Morgan China Chief Executive Mark Leung, "we expect this new initiative to not only provide participants with access to quality jobs and income opportunities, but also to help them better manage their personal finances, which in turn will improve the financial wellness of their families and the local communities in the long run."

Women are a critical force in China's poverty alleviation and rural revitalization efforts, said CSEF Deputy Director Tang Min.

The charity believes the program will provide women with better job opportunities, increasing their income and improving family finances. With the support of J.P. Morgan, the CSEF will continue to enhance the program to accelerate the development of low-income women and the economy in local communities.

This is the third partnership between J.P. Morgan and the CSEF. In 2016, the two parties provided e-commerce training to over 500 young people in five poverty-stricken counties in Sichuan and Hebei provinces. The program saw an overall employment rate of 70 percent among participants.

In 2018, they launched a cross-border program to provide high-quality e-commerce training to 350 vocational college students. Out of the 282 participants who have completed the training so far, over 90 percent have obtained either an internship or a full-time job.

Beijing-based CSEF specializes in tailor-made solutions for enterprises seeking to plan and implement strategic philanthropic projects.