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Philanthropy growing in Luxembourg despite crisis
Luxembourg

Philanthropy growing in Luxembourg despite crisis

13.05.2014 From our online archive
Philanthropy is growing in Luxembourg despite the effects of the recent economic crisis, a group managing charitable foundations has concluded.
(de g. � dr.) Tonika Hirdman, directrice g�n�rale de la Fondation de Luxembourg ; Pierre Gramegna, ministre des Finances et pr�sident du Conseil d�Administration de la Fondation de Luxembourg
(de g. � dr.) Tonika Hirdman, directrice g�n�rale de la Fondation de Luxembourg ; Pierre Gramegna, ministre des Finances et pr�sident du Conseil d�Administration de la Fondation de Luxembourg

Philanthropy is growing in Luxembourg despite the effects of the recent economic crisis, a group managing charitable foundations has concluded.

In its end of year report, the “Fondation de Luxembourg” said that in 2013 it created 14 new foundations bringing the total number managed to 45, representing a total commitment of around 80 million euros.

“In recent years there has been a significant increase in philanthropic engagement in Luxembourg and Europe, a trend that is very encouraging. Against a difficult background of slowing global development, it is more important than ever before to share,” said Fondation de Luxembourg Director General Tonika Hirdman.

The foundations managed by the philanthropic organisation support a broad spectrum of interests, from social projects to education, culture and environmental protection both in Luxembourg and abroad.

The body also provides an advisory service, which Luxembourg Finance Minister and Fondation Board of Directors Chairman Pierre Gramegna said is now “an integral part of a wide range of wealth management services."

Established in December 2008, the Fondation de Luxembourg is a platform for philanthropy and expertise which assists donors, both individuals and companies.

Total project spending in 2013 amounted to 3.5 million euros, which helped support more than 70 projects in Luxembourg and around the world.

Projects abroad include educational support for 1,600 deprived children in Senegal as well as a scheme to classify the island of Nosy Faly in Madagascar as a protected natural habitat.

Among the Luxembourg-based projects, meanwhile, is "Dys-Positiv", a service which helps dyslexic children, and a programme to stimulate social entrepreneurship through the Prix Tremplin award.

To find out more, please visit www.fdlux.lu

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