Friday, August 28 2015 21:12

To mark the 150th anniversary HSBC will allocate US$150m in community projects and local charities

ArmInfo. To mark the 150th anniversary HSBC wants to allocate US$150m fund available to community projects and local charities over three years (2015- 2017) says the press service of the bank. The US$150m fund is in addition to the US$114 million HSBC makes available to community investment programmes globally each year.

According to the source, More than 50,000 HSBC employees voted on charitable themes in 2014.  There were three clear winners: young people and their education; medical welfare and research; and the environment and wildlife. Carefully selected over 140 charities worldwide will benefit from the funding.

Here in Armenia, HSBC annually invests around AMD50m in charities to support education and environmental projects. We focus on making innovative and high quality education accessible for children at risk. Tieing up with partners as "TUMO Centre for Creative Technologies", Meghvik NGO, FPWC, CNF, JAA and others, in 2014 alone HSBC invested around AMD40m in 26 charitable education projects in Armenia.

HSBC also invests in environmental programmes tackling the challenges of climate change and natural resources depletion. In 2014 HSBC Armenia donated around AMD7m to environmental efficiency programmes with main focus on water conservation and climate change. Together with partner charities we engage and support programs aimed at conservation of endangered species, biodiversity and promotion of ecotourism.

"We are delighted to mark our 150th anniversary with this additional $150 million community fund. As a business, we believe that education, medical welfare and resources such as safe water and sanitation are essential to resilient communities which are, in turn, the basis of thriving economies and businesses", - mentioned Douglas Flint, the President of HSBC Group.

Note that HSBC Holdings plc is one of the largest financial conglomerates in the world, with assets as of July 1, 2015 reaching $ 2.572 trillion. It was founded in 1865 in Hong Kong to finance trade between China and Europe. Following the acquisition of it by British Midland Bank the Headquarters of the company moved to London. HSBC has over 6,100 offices in 72 countries - Europe, Asia, North and Latin America, the Middle East and North Africa. In Armenia HSBC is present since 1996. Originally a subsidiary of the company was called "Midland Armenia Bank" PC, and since 1999 - was reorganized into "HSBC Bank Armenia" CJSC. The shareholders of the bank are HSBC Europe BV with a share of 70% and Wings Establishment - 30%. The bank's assets on July 1 amounted to 274.9 bln. Drams.

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