13 May 2014 | Press Releases
Five years after it was established, the Fondation de Luxembourg has had an exceptional year with the creation of 14 new charitable foundations, bringing the total number of foundations overseen to 45. These foundations support a broad spectrum of public interests, ranging from the social sector to education and from culture to environmental protection. In geographical terms, the projects are distributed between the Grand Duchy of Luxembourg, other European countries and emerging countries.
The Fondation de Luxembourg currently oversees 45 foundations, representing a total commitment of approximately 80 million euros employed in the public interest in Luxembourg and around the world. These figures indicate a growing philanthropic commitment in Luxembourg despite a period of economic crisis. "The growth of philanthropic engagement in Luxembourg is a major development as it contributes to the improvement of living conditions and socio-cultural enrichment of many people in Luxembourg and around the world. The advisory services on philanthropy provided by the Fondation de Luxembourg is now an integral part of a wide range of wealth management services," said Pierre Gramegna, Minister of Finance and the Chairman of the Board of Directors of the Fondation de Luxembourg.
Since its establishment in December 2008, the Fondation de Luxembourg has assisted many donors of a wide range of nationalities, both individuals and companies. "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. We are delighted that the Fondation de Luxembourg has become a platform for philanthropy and expertise through which donors can meet and bring their projects to fruition to benefit good causes," said Tonika Hirdman, the Fondation de Luxembourg Director General.
The Fondation de Luxembourg works for the promotion of philanthropy in the broadest sense of the term. Project spending was 3.5 million euros in 2013, and now totals 7 million euros since the creation of the Foundation, allowing over 70 projects in Luxembourg and around the world to be supported. These projects range from educational support, such as the project to provide 1,600 deprived children in Senegal with access to education to a scheme to classify the island of Nosy Faly in Madagascar as a protected natural habitat, whilst training local people in sustainable agriculture. In addition to these initiatives set up abroad, there are also several projects in Luxembourg such as "Dys-Positiv", a service which helps dyslexic children; individual educational support for children at the Kannerland Daycare Centre and a programme to stimulate social entrepreneurship through the Prix Tremplin award. More than half of founders are from European countries other than Luxembourg who want to extend their activities to a wide range of international destinations. The political and economic stability of Luxembourg, its position at the heart of Europe and in particular its concentration of multilingual international experts on legal, fiscal and financial matters has attracted philanthropic donors from far and wide to set up charitable foundations in the Grand Duchy.
Last year, the Fondation de Luxembourg organised round-table eetings for founders to share their experiences and exchange views on the subject of family philanthropy. The Fondation de Luxembourg also participated in drafting several articles and organising numerous conferences and panel meetings, both nationally and internationally. In order to stimulate philanthropic commitment in the financial market, the Fondation de Luxembourg entered a partnership as trainer on philanthropy for the "Executive Programme in Wealth Management" developed by the Luxembourg School of Finance. Some twenty presentations and discussions were also organised for private banks and family offices active in the financial market.