TURIN, Italy, April 17, 2023 (GLOBE NEWSWIRE) — Intesa Sanpaolo’s Charitable and Social and Cultural Works Fund, under the Bank’s Chairmanship, will be able to erogate 20 million euros in 2023 to third-sector entities to counter difficult situations made even more severe by the recent health, economic and social crisis.
There are four priority themes of action: emergency interventions against poverty, support for women and minors who are victims of violence, fight against educational poverty and the digital divide, support for NEETs (young people who neither study nor work) and ELETs (young people who drop out early school or training activities).
“A country in which the social gap continues to widen is not a country that can grow peacefully. This is the founding premise on which Intesa Sanpaolo’s commitment to come to the aid of people and families in difficulty starts, a commitment which The 2022-2025 Business Plan has been doubled in the number of interventions The Charity Fund has been contributing to this goal for some time and will again concentrate resources in 2023, 20 million euros, to reduce the social, educational and digital gaps that limit the full development of the country and of the people”, says the president of Intesa Sanpaolo, Gian Maria Gros-Pietro.
New to 2023 is the project to analyze the economic impact of the Charity Fund’s activity carried out with Altis Advisory, a spin-off of the Catholic University of the Sacred Heart of Milan, which aimed at figuring out the economic value generated. According to the project the disbursements of the Fund generates a ‘four’ multiplier effect of the social and economic value of the goods and services rendered by third sector entities (ETS). For example January 2021-October 2022, given 18.8 million euros disbursed (Economic Value Delivered), 78.2 million euros of impact were paid with economic resources ‘freed up’ for other needs (economic value generated).
In the last 5 years, 71 million have been disbursed by the Fund, for a total of over 4,000 projects supported: last year, in particular, 16 million euros were erogated for 65,000 direct beneficiaries.
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