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Rietumu Charity Fund Celebrates Its Tenth Anniversary

20-Apr-2017, 11:23 / Charity & Sponsorship These days Rietumu Bank Charity Fund will celebrate 10 years since its foundation. Established in April 2007, it soon became one of the biggest private charity organisations in Latvia. The priority areas of its activities are medicine, education, support of low-income people, children and culture.

Annually, Rietumu Bank allocates EUR 1 million for charity. About a half of this amount is forwarded to projects of Rietumu Charity Fund – every year about 100 projects receive financing.

“Rietumu Bank started its charity activities already in mid-1990s. Back then, quite small projects were receiving support; nevertheless, this work reflected the views and the philosophy of the bank shareholders - a successful business, which has such opportunities, can help to those in need.
With time, opportunities for such support were steadily growing. Experience was being accumulated, ties were being established. The logically thought over and structured approach to the main business of the bank was very fast and positively reflected also on its charity activities. After a short while, in spring 2007 the Charity Fund of Rietumu Bank was established and started functioning,” said Chairperson of the Board of Rietumu Charity Fund Inga Šina.

Arkady Suharenko, founder and shareholder of Rietumu Bank, noted:
“If you can help, do it! Do it in such a way that other people can count on you. A regular, though small, help is more preferable to a one-time help – then a good deed has more chances and force to strengthen and regain feet.”

On the first stage of the Fund’s operation, with the direct participation of the bank’s shareholders, the priorities for charitable activities were formulated, and they retain their topicality up to now. Primarily, this is support of projects in the field of accessible medicine, especially for children, in education of the young generation, in the social area, as well as in the field of culture and art.

“Today when the Fund projects numbers in dozens and hundreds, it is not very simple, at first sight, to divide them in these four directions. However, what inevitable remains in the focus of attention of the Fund, is the main thing, which is called public benefit. Thus, for instance, the Fund provides continuous support to 82 institutions for children, including schools, care homes, orphan asylums, libraries. More than 35 churches of traditional religious confessions have already received financing from the Fund within the framework of the annual competition “Sacral Heritage of Latvia”.
As they used to say, when politicians are short of reasons, the arguments of culture keep sounding. We understand this and therefore devote much attention to projects in the field of international cultural exchange, as what is said in the language of culture, sounds more eloquently and convincingly in our hard times,” said Inga Šina.

On Rietumu Charity Fund

Rietumu Charity Fund was established in April 2007. The total volume of financed projects since 2007 up to now has amounted EUR 4 million. In total, about 750separate programmes have been supported in such areas as culture, medicine, social spheres, healthcare, etc. The Fund receives 20 to 30 applications monthly, of which up to 30% receive partial or full financing. The Fund’s priority is provision of support in solution of social problems, including help to healthcare, children and youth, education and science, art and culture.

Eleonora Gailisha
Mass Media and Public Relations
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