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Black Tie International:
Stavros Niarchos Foundation |
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EXTRAORDINARY TIMES DEMAND
EXTRAORDINARY ACTS
THE STAVROS NIARCHOS FOUNDATION
COMMITS
$130 MILLION TO HELP EASE THE
ADVERSE EFFECTS
OF
THE CURRENT CRISIS IN GREECE
ATHENS, January 23, 2012
— The Board of Directors of the
Stavros Niarchos Foundation,
concerned with the
socio-economic crisis in Greece,
has committed up to $130 million
(€100 million) over the next
three years to help ease the
adverse effects of the deepening
crisis. This decision comes on
the heels of a $1.9 million
(€1.5 million) grant supporting
a series of pilot programs
addressing the country’s
mounting social needs.
The Foundation’s purpose and
philosophy, which focuses on
vital issues in Greece as well
as the rest of the world,
remains to complement rather
than replace the work of state
and institutional organizations.
Funds will be made available
only to grantees that have the
capacity and ability to utilize
them effectively.
“The crisis is rapidly reversing
decades of economic growth,”
stated Andreas C. Dracopoulos,
Co-President and Member of the
Stavros Niarchos Foundation
Board. “Our commitment is to
those most in need but is also a
promise to future generations.
Not only do we intend to offer
immediate relief by funding
social welfare and health
programs, but we will invest in
educational programs that should
help ensure that the current
crisis does not condemn future
generations. We hope that
today’s announcement will
inspire many other organizations
and individuals that can and
must help to do the same.”
The Foundation has already
received inquiries from
individuals, who inspired by its
initiatives, have expressed
their willingness to co-invest
together with the Foundation
toward this effort and the
future of Greece.
Today’s announcement comes as
the Stavros Niarchos Foundation
Cultural Center (SNFCC) in
Athens, by far the Foundation’s
largest single gift (€566/$790
million), approaches the
beginning of the construction
phase, with excavation works
already in progress at the site.
The Stavros Niarchos Foundation
firmly believes that the project
is of national importance, even
more so under the current
socio-economic conditions. It
remains a testament and a
commitment to the country’s
future, at a critical historical
juncture. It is also an engine
of short- to mid-term economic
stimulus, which is essential
under the current circumstances.
The Stavros Niarchos Foundation
(www.SNF.org) is one of the
world’s leading international
philanthropic organizations,
making grants in the areas of
arts and culture, education,
health and medicine, and social
welfare. The Foundation funds
organizations and projects that
exhibit strong leadership and
sound management and that have
the potential to achieve a
broad, lasting and positive
impact. The Foundation also
seeks actively to support
projects that facilitate the
formation of public-private
partnerships as effective means
for serving public welfare.
From 1996 until today, the
Stavros Niarchos Foundation has
approved grant commitments of
€948 million/$1.242 billion,
through 2,115 grants to
nonprofit organizations in 100
nations around the world. Out of
the Foundation’s total grant
commitments, 79% of funds have
been directed to organizations
and initiatives in
Greece, through 1,013 grants.
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