«We are facing extraordinary difficult times and, more than ever before, we must join forces for the common good, support the most vulnerable in our communities and exercise responsibly in these crucial days.» - said Giovanni Fosti, President, Fondazione Cariplo
With this spirit in mind, Fondazione Cariplo has launched a special Fund committing the first 2 million euros, for the purpose of aggregating resources that will be used to provide assistance to the most vulnerable people and to support associations and nonprofit organisations impacted by the COVID-19 outbreak.
A few days after, initiatives are multiplying at community level across Lombardy and the provinces of Verbano-Cusio-Ossola and Novara. The lead players in these efforts are Community Foundations, a beacon for their respective communities especially in these challenging times. Supported by institutions, businesses and individual donors contributing in different ways to combat the emergency, community foundations have promptly mobilized solidarity networks and prioritized use of resources.
Launched to catalyze and boost community resources, and spring-boarding efforts with a first contribution of around one million euros immediately released on 11 March, Fondazione Cariplo’s fund has already had a multiplier effect and the pool of financial resources has already reached 48 million euros.
Subsequently, ACRI - Association of Italian Foundations of Banking Origin, Fondazione Cariplo included, has launched a guarantee fund of five million euros to support nonprofit organisations impacted by the outbreak.
The overarching purpose of the fund is aptly described by the words of Giovanni Fosti, Fondazione Cariplo’s President who said "Alongside businesses also numerous nonprofit and volunteer organizations are struggling and this could jeopardise the provision of services. We believe it is absolutely urgent to catalyze resources to aid and draw attention to these organizations that play a key role for the services they provide to families and operate fundamental areas for our communities. The fund approved by our Board of Directors is a first action in which others may join: a first step to mobilize resources including those of other players and individuals willing to join us and collaborate with institutions and community foundations.”
In the current initial acute stage of the emergency, Fondazione Cariplo chose to give some 900,000 euros as an initial tranche of its financial contribution to the 16 local Community Foundations to jump-start or boost local funds supporting health or social assistance endeavors.
Pooling of resources is still underway.
Further down the road, Fondazione Cariplo shall address and assess, liaising with Community Foundations, the various needs and the most suitable actions to support local communities, re-start regular services and reinforce our communities’ cohesion.
«In these days, marked by the severity of pain and suffering that is being inflicted on so many people’s lives, two important words linger in our minds: responsibility and gratitude. Responsibility of each and every one of us, in the first place, to follow the guidelines and recommendations issued by the authorities. And gratitude to all those who are putting their health at risk in order to serve others.» - Giovanni Fosti, President, Fondazione Cariplo
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