The Foundation established by SCM is going to invest up to $10m annually for social projects implementation.
 
The Foundation established by SCM is going to invest up to $10m annually for social projects implementation.
The Foundation for the Development of Ukraine founded in 2005 by System Capital Management (its major shareholder is Rinat Akhmetov) was presented in Kiev. The Foundation aims to implement socially important projects in culture, health care and education fields. The NGO expects to invest up to $10m into these programmes annually.

Natalia Izosimova, the Vice-Chairperson of Foundation’s Board and Director of Corporate Restructuring at SCM, took the floor and said it was not a matter of chance that the establishment of the Foundation and its presentation took place after the general election. "The Foundation doesn’t have anything to do with politics. This demonstrates our understanding of corporate responsibility of big businesses to the society", - said Ms Izosimova. - "Our current capabilities made it possible to create a foundation harnessing the best world standards, experience and practices. The decision was initiated by the intention of Rinat Akhmetov, SCM’s major shareholder, to help".

Anatoliy Zabolotniy, the Director of the Foundation, dwelled upon the idea of Ms Izosimova: "Our goal is to support large-scale and medium projects that can bring a long-term efficient result for sustainable development of Ukraine". He said the current activity of the organization was focused on three fields, i.e. health care, education and culture.
The foundation is operating in eight Ukrainian regions with two projects being implemented in Kiev. For example, the programme Health of the Nation launched realization of the drug-resistant TB treatment strategy in Donetsk region. The World Health Organization is the partner of the project expected to last four years. The estimated project budget amounts to around UAH 15m.

The Cultural Heritage programme includes the project to restore the Metropolitan House of the Sofia Kievskaya National Reserve. The Foundation has committed already $15m for renovation efforts. The House is supposed to host grand events for highest level officials, various exhibitions, a graphic art school, and a Museum of Ukrainian Architecture.
Another UAH 1.5m will be committed on the education project, i.e. Support of the Master’s Program in Economics offered by Economics Education and Research Consortium at the National University "Kyiv-Mohyla Academy". Vyacheslav Brukhovetskiy, the member of the Foundation’s Board and the President of the Academy admitted he had been rather suspicious about the proposition to cooperate. Regrettably the activity of lots of charities can not be regarded as successful. Their projects function as long as they have funds. But in this case Mr. Brukhovetskiy accepted the offer of the Foundation for the Development of Ukraine because he saw a strategic approach to charity.

The senior managers underlined the foundation’s activity is not charitable one in a pure sense of the word. As Natalia Izosimova said: "In our case, we speak about social investments aimed to solve a problem rather than tackle effects of the disease".

The Board of the Foundation for the Development of Ukraine spearheaded by member of parliament Rinat Akhmetov included several representatives of SCM, Vyacheslav Brukhovetskiy, the president of the Kyiv-Mohyla Academy, Miroslav Popovich, the Director of Skovoroda Philosophy Institute and the member of the National Academy of Sciences, and Boris Stinskiy, the Head of the first traumatology department of the Hospital No7. in Enakievo (Donetsk Region).

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By Anna Ivanenko

20.05.06