Financial services giant Merrill Lynch has announced a commitment of $5 million to Sesame Workshop, the educational organization behind Sesame Street, to launch a global financial literacy program for children.

Through its WorldwideKids initiative, Sesame Workshop will provide multi-media educational tools and resources designed to help educators, caregivers, and parents equip three- to-six year-olds with essential life skills. In concert with an international advisory board, the Toms River, New Jersey-based organization will develop age-appropriate, research-based materials for delivery through a range of media, including DVDs, a Web site, and printed resources. In addition, Merrill Lynch employees in North and South America, Asia, and Europe will volunteer at pre-schools, community centers, and child-care agencies to support the effort.

"With offices in thirty-six countries, Merrill Lynch understands the need for global awareness and is committed to providing children the tools to be effective participants in an increasingly global economy," said Merrill Lynch chairman and CEO Stan O'Neal. "We partnered with Sesame Workshop because no one captures the hearts and minds of children as effectively and memorably as the furry friends living on the longest street in the world, Sesame Street."